Ferrari N.V.

BATS-CHIXE:RACEM Stock Report

Market Cap: €73.6b

Ferrari Valuation

Is RACEM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of RACEM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RACEM (€411.3) is trading above our estimate of fair value (€88.01)

Significantly Below Fair Value: RACEM is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RACEM?

Key metric: As RACEM is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for RACEM. This is calculated by dividing RACEM's market cap by their current earnings.
What is RACEM's PE Ratio?
PE Ratio51.4x
Earnings€1.43b
Market Cap€73.59b

Price to Earnings Ratio vs Peers

How does RACEM's PE Ratio compare to its peers?

The above table shows the PE ratio for RACEM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.5x
GM General Motors
5.6x-10.2%US$62.7b
P911 Dr. Ing. h.c. F. Porsche
14.3x11.3%€56.8b
BMW Bayerische Motoren Werke
5.3x5.6%€42.9b
MBG Mercedes-Benz Group
4.7x1.7%€51.2b
RACEM Ferrari
51.4x9.4%€77.9b

Price-To-Earnings vs Peers: RACEM is expensive based on its Price-To-Earnings Ratio (51.4x) compared to the peer average (7.5x).

Price to Earnings Ratio vs Industry

How does RACEM's PE Ratio compare vs other companies in the Global Auto Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies17PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RACEM is expensive based on its Price-To-Earnings Ratio (51.4x) compared to the Global Auto industry average (14.7x).

Price to Earnings Ratio vs Fair Ratio

What is RACEM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RACEM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio51.4x
Fair PE Ratio24.9x

Price-To-Earnings vs Fair Ratio: RACEM is expensive based on its Price-To-Earnings Ratio (51.4x) compared to the estimated Fair Price-To-Earnings Ratio (24.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RACEM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€411.30
€469.02
+14.0%
10.0%€531.61€353.96n/a14
Nov ’25€443.55
€463.09
+4.4%
10.9%€541.38€353.96n/a14
Oct ’25€416.55
€435.70
+4.6%
14.5%€541.38€281.01n/a14
Sep ’25€431.55
€419.13
-2.9%
12.1%€476.42€281.01n/a14
Aug ’25€390.70
€408.91
+4.7%
12.0%€476.42€281.01n/a14
Jul ’25€382.40
€406.68
+6.3%
12.0%€476.42€281.01n/a14
Jun ’25€375.10
€401.93
+7.2%
12.5%€476.42€281.01n/a14
May ’25€385.25
€397.22
+3.1%
12.8%€481.74€280.09n/a14
Apr ’25€406.75
€376.17
-7.5%
11.4%€431.68€264.56n/a14
Mar ’25€383.85
€363.92
-5.2%
12.7%€426.17€264.56n/a14
Feb ’25€352.70
€345.13
-2.1%
11.0%€418.75€264.56n/a14
Jan ’25n/a
€339.77
0%
11.7%€415.01€256.08n/a14
Dec ’24€331.10
€332.64
+0.5%
12.8%€415.01€256.08n/a12
Nov ’24n/a
€312.18
0%
8.4%€347.05€257.86€443.5511
Oct ’24€274.80
€308.88
+12.4%
9.4%€347.05€257.86€416.5511
Sep ’24€286.85
€306.41
+6.8%
9.6%€347.05€257.86€431.5511
Aug ’24€290.15
€297.61
+2.6%
11.9%€349.83€252.70€390.7010
Jul ’24€298.20
€276.68
-7.2%
16.1%€344.89€190.60€382.4010
Jun ’24€269.95
€276.51
+2.4%
16.2%€344.89€190.60€375.1010
May ’24€252.50
€264.60
+4.8%
15.0%€325.93€185.46€385.2510
Apr ’24€249.20
€256.31
+2.9%
18.0%€325.93€178.75€406.7510
Mar ’24€245.70
€255.62
+4.0%
18.9%€327.13€174.37€383.8511
Feb ’24€229.10
€235.59
+2.8%
15.3%€286.89€174.37€352.7011
Jan ’24€201.45
€234.61
+16.5%
17.9%€292.01€172.60n/a11
Dec ’23€215.90
€232.95
+7.9%
18.8%€292.01€172.60€331.1010
Nov ’23€198.55
€236.70
+19.2%
20.0%€307.14€166.72n/a10

Analyst Forecast: Target price is less than 20% higher than the current share price.

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