Ferrari
Market Cap
US$30.2b
Last Updated
2020/02/25 01:43 UTC
Data Sources
Company Financials +
Executive Summary
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars.
Snowflake Analysis
Adequate balance sheet with limited growth.
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
Stable Share Price: RACE has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-8.3%
RACE
-4.1%
US Auto
-4.2%
US Market
1 Year Return
26.3%
RACE
49.7%
US Auto
14.0%
US Market
Return vs Industry: RACE underperformed the US Auto industry which returned 60.1% over the past year.
Return vs Market: RACE exceeded the US Market which returned 17.8% over the past year.
Shareholder returns
| RACE | Industry | Market | |
|---|---|---|---|
| 7 Day | -8.3% | -4.1% | -4.2% |
| 30 Day | -5.5% | 17.2% | -1.8% |
| 90 Day | -4.6% | 42.3% | 2.6% |
| 1 Year | 27.4%26.3% | 53.9%49.7% | 16.3%14.0% |
| 3 Year | 156.4%150.5% | 69.9%54.5% | 43.2%34.0% |
| 5 Year | n/a | 72.9%43.5% | 65.9%47.6% |
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
6 days ago | Simply Wall St
Does Ferrari (NYSE:RACE) Have A Healthy Balance Sheet?2 weeks ago | Simply Wall St
Ferrari N.V. Just Released Its Annual Earnings: Here's What Analysts Think3 weeks ago | Simply Wall St
Is Ferrari N.V.'s (NYSE:RACE) ROE Of 52% Impressive?Valuation
Is Ferrari undervalued compared to its fair value and its price relative to the market?
40.31x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: RACE ($172.9) is trading above our estimate of fair value ($90.84)
Significantly Below Fair Value: RACE is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: RACE is poor value based on its PE Ratio (42.7x) compared to the Auto industry average (27.5x).
PE vs Market: RACE is poor value based on its PE Ratio (42.7x) compared to the US market (18.2x).
Price to Earnings Growth Ratio
PEG Ratio: RACE is poor value based on its PEG Ratio (4.8x)
Price to Book Ratio
PB vs Industry: RACE is overvalued based on its PB Ratio (19.9x) compared to the US Auto industry average (3.5x).
Next Steps
Future Growth
How is Ferrari forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?
8.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RACE's forecast earnings growth (8.8% per year) is above the savings rate (1.7%).
Earnings vs Market: RACE's earnings (8.8% per year) are forecast to grow slower than the US market (14.1% per year).
High Growth Earnings: RACE's earnings are forecast to grow, but not significantly.
Revenue vs Market: RACE's revenue (7.3% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: RACE's revenue (7.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RACE's Return on Equity is forecast to be high in 3 years time (32.6%)
Next Steps
Past Performance
How has Ferrari performed over the past 5 years?
24.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RACE has high quality earnings.
Growing Profit Margin: RACE's current net profit margins (18.5%) are lower than last year (22.9%).
Past Earnings Growth Analysis
Earnings Trend: RACE's earnings have grown significantly by 24.5% per year over the past 5 years.
Accelerating Growth: RACE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: RACE had negative earnings growth (-11.3%) over the past year, making it difficult to compare to the Auto industry average (-18.9%).
Return on Equity
High ROE: Whilst RACE's Return on Equity (46.98%) is outstanding, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Ferrari's financial position?
Financial Position Analysis
Short Term Liabilities: RACE's short term assets (€2.6B) exceed its short term liabilities (€1.4B).
Long Term Liabilities: RACE's short term assets (€2.6B) exceed its long term liabilities (€2.6B).
Debt to Equity History and Analysis
Debt Level: RACE's debt to equity ratio (136.4%) is considered high.
Reducing Debt: RACE's debt to equity ratio has increased from 20.6% to 136.4% over the past 5 years.
Debt Coverage: RACE's debt is well covered by operating cash flow (64.4%).
Interest Coverage: RACE's interest payments on its debt are well covered by EBIT (27x coverage).
Balance Sheet
Inventory Level: RACE has a high level of physical assets or inventory.
Debt Coverage by Assets: RACE's 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?
0.75%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Ferrari before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: RACE's dividend (0.71%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: RACE's dividend (0.71%) is low compared to the top 25% of dividend payers in the US market (3.73%).
Stability and Growth of Payments
Stable Dividend: RACE is not paying a notable dividend for the US market, therefore no need to check if payments are stable.
Growing Dividend: RACE is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.
Current Payout to Shareholders
Dividend Coverage: RACE is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of RACE's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.6yrs
Average management tenure
CEO
Louis Camilleri (64yo)
1.6yrs
Tenure
€887,255
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 ...
CEO Compensation Analysis
Compensation vs Market: Louis's total compensation ($USD963.78K) is below average for companies of similar size in the US market ($USD10.81M).
Compensation vs Earnings: Louis's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 1.6yrs | €223.59k | 0.0083% €2.5m | |
| CEO & Executive Director | 1.6yrs | €887.26k | 0.012% €3.7m | |
| Chief Financial Officer | 1.6yrs | no data | no data | |
| Chief Technology Officer | 6.1yrs | no data | no data | |
| Head of Investor Relations | 4.6yrs | no data | no data | |
| General Counsel | 4.6yrs | no data | no data | |
| Chief Communication Officer | 0.8yrs | no data | no data | |
| Chief Marketing & Commercial Officer | 9.8yrs | no data | no data | |
| Chief Human Resources Officer | 3.8yrs | no data | no data | |
| Chief Manufacturing Officer | 4.9yrs | no data | no data |
4.6yrs
Average Tenure
53yo
Average Age
Experienced Management: RACE's management team is considered experienced (4.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 1.6yrs | €223.59k | 0.0083% €2.5m | |
| CEO & Executive Director | 1.6yrs | €887.26k | 0.012% €3.7m | |
| Vice Chairman | 0yrs | €83.47k | 10.21% €3.1b | |
| Senior Non-Executive Director | 0yrs | €109.81k | no data | |
| Independent Non-Executive Director | 3.8yrs | €67.08k | 0.0014% €431.4k | |
| Independent Non-Executive Director | 3.8yrs | €76.02k | no data | |
| Independent Non-Executive Director | 4.1yrs | €73.54k | 0.0014% €437.4k | |
| Independent Non-Executive Director | 4.1yrs | €74.54k | 0.00098% €295.6k | |
| Independent Non-Executive Director | 4.1yrs | €86.47k | no data | |
| Independent Non-Executive Director | 3.8yrs | €67.08k | 0.0015% €455.5k |
4.0yrs
Average Tenure
55yo
Average Age
Experienced Board: RACE's board of directors are considered experienced (4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Ferrari N.V.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Ferrari N.V.
- Ticker: RACE
- Exchange: NYSE
- Founded: 1947
- Industry: Automobile Manufacturers
- Sector: Automobiles
- Market Cap: US$30.165b
- Shares outstanding: 185.07m
- Website: https://www.ferrari.com
Number of Employees
Location
- Ferrari N.V.
- Via Abetone Inferiore n. 4
- Maranello
- Modena
- 41053
- Italy
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RACE | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Oct 2015 |
| 2FE | XTRA (XETRA Trading Platform) | Yes | Common Shares | DE | EUR | Oct 2015 |
| 2FE | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Oct 2015 |
| RACE | SWX (SIX Swiss Exchange) | Yes | Common Shares | CH | CHF | Oct 2015 |
| 0RDT | LSE (London Stock Exchange) | Yes | Common Shares | GB | EUR | Oct 2015 |
| RACE | BIT (Borsa Italiana) | Yes | Common Shares | IT | EUR | Oct 2015 |
| RACEM | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Shares | GB | EUR | Oct 2015 |
| RACE N | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Oct 2015 |
| RACE | WBAG (Wiener Boerse AG) | Yes | Common Shares | AT | EUR | Oct 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 series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars. In addition, the company licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods; and Ferrari World, a theme park in Abu Dhabi, the United Arab Emirates. Further, it provides direct or indirect finance and leasing services to retail clients and dealers; manages race tracks, as well as owns and manages two museums in Maranello and Modena, Italy; and develops and sells a line of apparel and accessories through its monobrand stores. As of December 31, 2019, it had a total of 44 retail Ferrari stores, including 24 franchised stores and 20 owned stores. The company also sells its products through a network of 166 authorized dealers operating 187 points of sale worldwide, as well as through its Website, store.ferrari.com. Ferrari N.V. was founded in 1947 and is headquartered in Maranello, Italy.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/25 01:43 |
| End of Day Share Price | 2020/02/24 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.