Bedrijfsoverzicht
Ferrari N.V. is a global enterprise dedicated to the design, engineering, production, and sale of luxury performance sports cars, including a diverse portfolio of sports, track, one-off, road, and supercars alongside spare parts and engines. The company operates within the Consumer Cyclical sector as an Auto Manufacturer, positioning it directly within the market for high-end automotive products where brand equity and exclusivity are paramount. With a market capitalization of $62.58B, annual revenue of $7.15B, and an employee base of 5718, the firm represents a significant capital entity within the automotive landscape. These valuation and revenue figures indicate that Ferrari commands a substantial market position, reflecting the high barriers to entry and strong brand loyalty inherent in the luxury sports car industry, which distinguishes it from mass-market automotive competitors.
Financiële gezondheid
The company reported a trailing twelve-month revenue of $7.15B with a net income of $1.60B and EBITDA of $2.41B, revealing a cost structure where operating expenses consume approximately 41.9% of total revenue before interest and taxes. Ferrari generates a free cash flow of $839.14M, which provides the management with significant financial flexibility to fund operations, service debt, or pursue strategic initiatives without relying heavily on external financing. The firm maintains robust profitability across three key margins: a gross margin of 51.7%, an operating margin of 28.6%, and a profit margin of 22.3%, indicating efficient production processes and strong pricing power in the luxury segment. Regarding liquidity and leverage, the company holds $1.42B in cash against $2.88B in debt, resulting in a debt-to-equity ratio of 73.68% that suggests a moderately leveraged balance sheet typical for capital-intensive manufacturing. Short-term liquidity is supported by a current ratio of 2.30, indicating that current assets are more than twice the value of current liabilities and providing a comfortable buffer against short-term obligations. Management effectiveness is evidenced by a return on equity of 42.9% and a return on assets of 13.8%, demonstrating the ability to generate substantial returns on the capital employed in the business.
Waarderingsbeoordeling
The stock trades at a trailing twelve-month P/E ratio of 33.67 and a forward P/E of 28.07, implying that the market expects earnings to grow significantly to bridge the gap between current profitability and future projections. The price-to-book ratio stands at 13.80, which indicates that the market values the company at a substantial premium over its book value, reflecting the intangible value of the brand and its engineering capabilities. Alternative valuation metrics include a price-to-sales ratio of 8.76 and an EV/EBITDA of 26.53, suggesting that investors are willing to pay a high multiple for sales and earnings due to the company's established moat in the luxury sector. In terms of trading range, the 52-week high is $519.10 and the 52-week low is $312.51, meaning the current price sits below the 52-week high but well above the 52-week low, reflecting recent market volatility and sentiment shifts. The beta of 0.60 indicates that the stock exhibits lower price volatility relative to the broader market, suggesting that price movements are often dampened compared to the general equity index.
Growth & Income
Revenue growth over the last year stood at 3.8% while earnings growth was -0.2%, indicating that earnings are currently growing slower than revenue, likely due to one-off adjustments or cost pressures impacting the bottom line more severely than the top line. As a dividend payer, the company offers a dividend yield of 1.2% with a payout ratio of 33.3%, a level that appears sustainable given the strong profit margins and positive free cash flow generation. The low payout ratio implies that the majority of earnings are retained to reinvest in the business, maintain high production standards, or strengthen the balance sheet rather than being distributed to shareholders. The overall growth and income profile presents a mix of moderate revenue expansion, a slight contraction in earnings growth, and a modest but sustainable income stream through dividends.