Ferrari N.V.
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+ FollowMarket Cap$69.4B
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Earnings Call Q3 2026
November 3, 2026 - AI Summary
Q3 2026 results: strong profitability + cash generation, driven by mix & personalizations
- Revenues: €1.29bn, ~+10% constant currency / +7% reported (FX headwind mainly USD/JPY).
- EBIT: >€560m, double-digit growth (mix/price variance + strong personalizations).
- Industrial Free Cash Flow (FCF): >€565m (driven by profitability and positive working capital—notably advances collection; partially offset by capex).
- Net cash: €219m at quarter-end after share repurchases during the period.
Demand & product/mix: personalization exceeds expectations; healthy order book into 2028
- Personalizations: >21% of total revenues from cars & spare parts (particularly strong for 296 Speciale family); company initially guided ~20% for the year and expects continuation.
- Order book: described as healthy with visibility entering 2028.
- Model changeover impacts shipments (planned slightly lower volumes to manage ramp/transition), but mix remains supportive.
Guidance upgraded for full-year 2026 (key Q4 assumptions)
- Company raised FY outlook citing:
- Higher Q4 personalizations consistent with Q3 trend (supported by a higher concentration of special versions planned in Q4).
- Improved USD/EUR vs Q3 (including hedges).
- Lower Formula 1-related costs reflecting Ferrari’s current 2nd place in the constructors/championship ranking; assumption that all 4 remaining races will be confirmed.
- Volume stance: management repeatedly indicated they are not changing volume expectations, implying revenue upgrade is mainly mix/ASP/personalizations + FX & cost assumptions.
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$495.82
14.7% upside
Current Fair Value
14.7% upsideUndervalued by 14.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $69.40 Billion |
|---|---|
| Enterprise Value | $71.08 Billion |
| Annual dividend | $4.25 |
| Dividend yield | 1.02% |
| Earnings per Share | $8.96 |
| Beta | 0.61 |
| Outstanding Shares | 176,228,000 |
Return
| Return on Equity | 44.85% |
|---|---|
| Return on Assets | 16.06% |
| Return on Invested Capital | 27.19% |
Valuation & Multiples
| P/E Ratio | 38.43 |
|---|---|
| PEG | 437.3 |
| Price to Sales | 10.54 |
| Price to Book Ratio | 21.61 |
| Enterprise Value to Revenue | 9.66 |
| Enterprise Value to EBIT | 32.68 |
| Enterprise Value to Net Income | 43 |
| Total Debt to Enterprise | 0.04 |
| Debt to Equity | 0.87 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 3, 2026
EPS Estimate
$2.66
Consensus analyst estimateRevenue Estimate
$2.15 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 9, 2027
EPS Estimate
$2.82
Consensus analyst estimateRevenue Estimate
$2.20 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 197.35% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.32%▼ 32.26% |
|---|---|
| Total Invested | $1.55B▼ 93.17% |
| Investors Holding | 233▼ 529.00% |
About Ferrari N.V.
5,718 employees
CEO: Louis Camilleri
Ferrari N.V. is an esteemed Italian corporation primarily engaged in the design, engineering, production, and global sale of high-performance luxury sports cars. Its extensive automotive lineup encompasses standard sports models, Grand T...