BIT:RACE

Stock Analysis Report

Executive Summary

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars.

Snowflake

Fundamentals

Solid track record with moderate growth potential.


Similar Companies

Share Price & News

How has Ferrari's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.9%

BIT:RACE

-1.2%

IT Auto

-0.3%

IT Market


1 Year Return

18.3%

BIT:RACE

-16.4%

IT Auto

-0.6%

IT Market

RACE outperformed the Auto industry which returned -14.9% over the past year.

RACE outperformed the Market in Italy which returned 0.6% over the past year.


Share holder returns

RACEIndustryMarket
7 Day0.9%-1.2%-0.3%
30 Day-0.9%11.7%5.6%
90 Day-0.7%1.9%1.1%
1 Year19.3%18.3%-3.8%-16.4%3.7%-0.6%
3 Year235.3%227.0%143.7%110.4%31.3%13.5%
5 Yearn/a14.6%-2.8%13.5%-30.8%

Price Volatility Vs. Market

How volatile is Ferrari's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Ferrari undervalued based on future cash flows and its price relative to the stock market?

31.27x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Ferrari's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Ferrari's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Ferrari is overvalued based on earnings compared to the Europe Auto industry average.

Ferrari is overvalued based on earnings compared to the Italy market.


Price Based on Expected Growth

Ferrari is poor value based on expected growth next year.


Price Based on Value of Assets

Ferrari is overvalued based on assets compared to the IT Auto industry average.


Next Steps

Future Growth

How is Ferrari expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

4.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Ferrari's revenue is expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).

Ferrari's earnings are expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).

Ferrari's revenue growth is expected to exceed the Italy market average.

Ferrari's earnings growth is positive but not above the Italy market average.

Ferrari's earnings growth is expected to exceed the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Ferrari is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Ferrari performed over the past 5 years?

28.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Ferrari has delivered over 20% year on year earnings growth in the past 5 years.

Ferrari's 1-year earnings growth exceeds its 5-year average (43.4% vs 28.2%)

Ferrari's earnings growth has exceeded the Europe Auto industry average in the past year (43.4% vs 12.9%).


Return on Equity

Whilst Ferrari made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.


Return on Assets

Ferrari used its assets more efficiently than the Europe Auto industry average last year based on Return on Assets.


Return on Capital Employed

Ferrari has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Ferrari's financial position?


Financial Position Analysis

Ferrari is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Ferrari's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Ferrari's level of debt (143.5%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (17.3% vs 143.5% today).

Debt is well covered by operating cash flow (61.7%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 27x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 1.3x debt.


Next Steps

Dividend

What is Ferrari's current dividend yield, its reliability and sustainability?

0.88%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Ferrari's pays a lower dividend yield than the bottom 25% of dividend payers in Italy (2.01%).

Ferrari's dividend is below the markets top 25% of dividend payers in Italy (4.35%).

Ferrari is not paying a notable dividend for Italy, therefore no need to check if the payments are stable.

Ferrari is not paying a notable dividend for Italy, therefore no need to check if the payments are increasing.


Current Payout to Shareholders

No need to calculate the sustainability of Ferrari's dividends as it is not paying a notable one for Italy.


Future Payout to Shareholders

No need to calculate the sustainability of Ferrari's dividends in 3 years as they are not expected to pay a notable one for Italy.


Next Steps

Management

What is the CEO of Ferrari's salary, the management and board of directors tenure and is there insider trading?

4.2yrs

Average management tenure


CEO

Louis Camilleri (64yo)

1.2yrs

Tenure

€270,412

Compensation

Mr. Louis Carey Camilleri, BA, has been the Non-Executive Chairman of Philip Morris International, Inc. since December 31, 2014. Mr. Camilleri has been the Chief Executive Officer of Ferrari S.p.A.since Ju ...


Management Age and Tenure

4.2yrs

Average Tenure

51.5yo

Average Age

The tenure for the Ferrari management team is about average.


Board Age and Tenure

3.7yrs

Average Tenure

55yo

Average Age

The tenure for the Ferrari board of directors is about average.


Insider Trading

Ferrari individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Sell€1,182,66325 Jul 19
Louis Camilleri
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares7,886
Max Price€149.97

Ownership Breakdown


Management Team

  • Louis Camilleri (64yo)

    CEO & Executive Director

    • Tenure: 1.2yrs
    • Compensation: €270.41k
  • Antonio Piccon

    Chief Financial Officer

    • Tenure: 1.2yrs
  • Enrico Galliera (53yo)

    Chief Marketing & Commercial Officer

    • Tenure: 9.4yrs
  • Vincenzo Regazzoni (56yo)

    Chief Manufacturing Officer

    • Tenure: 4.5yrs
  • Michael Leiters (48yo)

    Chief Technology Officer

    • Tenure: 5.7yrs
  • Nicola Boari (49yo)

    Chief Brand Diversification Officer

    • Tenure: 9.5yrs
  • Michele Antoniazzi (50yo)

    Chief Human Resources Officer

    • Tenure: 3.4yrs
  • Nicoletta Russo

    Head of Investor Relations

    • Tenure: 4.2yrs
  • Carlo Daneo

    General Counsel

    • Tenure: 4.2yrs
  • Jane Reeve

    Chief Communication Officer

    • Tenure: 0.3yrs

Board Members

  • Louis Camilleri (64yo)

    CEO & Executive Director

    • Tenure: 1.2yrs
    • Compensation: €270.41k
  • John Elkann (43yo)

    Chairman

    • Tenure: 1.2yrs
    • Compensation: €92.58k
  • Piero Ferrari (74yo)

    Vice Chairman

    • Tenure: 0yrs
    • Compensation: €80.55k
  • Sergio Duca (72yo)

    Senior Non-Executive Director

    • Tenure: 0yrs
    • Compensation: €94.89k
  • Lapo Elkann (42yo)

    Non-Executive Director

    • Tenure: 3.4yrs
    • Compensation: €63.89k
  • Amedeo Felisa (73yo)

    Non-Executive Director

    • Tenure: 3.7yrs
    • Compensation: €63.89k
  • Eddy Cue (55yo)

    Independent Non-Executive Director

    • Tenure: 3.7yrs
    • Compensation: €68.15k
  • Elena Emilia Zambon (55yo)

    Independent Non-Executive Director

    • Tenure: 3.7yrs
    • Compensation: €72.03k
  • Giuseppina Capaldo (50yo)

    Independent Non-Executive Director

    • Tenure: 3.7yrs
    • Compensation: €73.78k
  • Delphine Arnault (44yo)

    Independent Non-Executive Director

    • Tenure: 3.4yrs
    • Compensation: €63.89k

Company Information

Ferrari N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ferrari N.V.
  • Ticker: RACE
  • Exchange: BIT
  • Founded: 1947
  • Industry: Automobile Manufacturers
  • Sector: Automobiles
  • Market Cap: US$28.099b
  • Listing Market Cap: US$25.415b
  • Shares outstanding: 186.13m
  • Website: https://www.ferrari.com

Number of Employees


Location

  • Ferrari N.V.
  • Via Abetone Inferiore n. 4
  • Maranello
  • 41053
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
RACE34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 1 REP 1 COMBRBRLNo data
RACENYSE (New York Stock Exchange)COMUSUSDNo data
RACESWX (SIX Swiss Exchange)COMCHCHFNo data
2FEBST (Boerse-Stuttgart)COMDEEURNo data
0RDTLSE (London Stock Exchange)COMGBCHFNo data
0RDTLSE (London Stock Exchange)YesCommon SharesGBEUROct 2015
RACEBIT (Borsa Italiana)YesCommon SharesITEUROct 2015
2FEXTRA (XETRA Trading Platform)YesCommon SharesDEEUROct 2015
RACESWX (SIX Swiss Exchange)YesCommon SharesCHCHFOct 2015
2FEDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 2015
RACEMBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEUROct 2015
RACE NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNOct 2015
RACEWBAG (Wiener Boerse AG)YesCommon SharesATEUROct 2015
RACENYSE (New York Stock Exchange)YesCommon SharesUSUSDOct 2015

Biography

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/17 22:22
End of Day Share Price2019/09/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.