Financials · RACE

Ferrari N.V. (RACE) financials

For fiscal 2025 (ended Dec 31, 2025), Ferrari N.V. reported €7.15B of revenue and €1.60B of net income. Figures are in EUR, the currency of its SEC filings.

Revenue, FY2025
€7.15B
Revenue growth, YoY
+7.0%
Net income, FY2025
€1.60B
Net income growth, YoY
+4.9%
Net margin
22.3%
Free cash flow, FY2025
€1.86B
EPS, diluted, FY2025
€8.96
EPS growth, YoY
+5.9%
Cash
€1.47B
Total debt
€2.88B
Annual revenue€7.15B
FY2016FY2025
Annual net income€1.60B
FY2016FY2025
Annual free cash flow€1.86B
FY2016FY2025

RACE revenue and earnings growth

RACE revenueFY2025€7.15B

FY YoY
+7.0%
5Y CAGR
+15.6%
10Y CAGR
+9.6%

RACE revenue was €7.15B for fiscal 2025 (ended Dec 31, 2025), up 7.0% from fiscal 2024. Compound annual growth was +15.6% over 5 years and +9.6% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.

RACE net incomeFY2025€1.60B

FY YoY
+4.9%
5Y CAGR
+21.3%
10Y CAGR
+18.7%

RACE net income was €1.60B for fiscal 2025 (ended Dec 31, 2025), up 4.9% from fiscal 2024. Compound annual growth was +21.3% over 5 years and +18.7% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.

RACE EPSFY2025€8.96

FY YoY
+5.9%
5Y CAGR
+22.3%
10Y CAGR
+19.4%

RACE diluted EPS was €8.96 for fiscal 2025 (ended Dec 31, 2025), up 5.9% from fiscal 2024. Compound annual growth was +22.3% over 5 years and +19.4% over 10 years.

RACE free cash flowFY2025€1.86B

FY YoY
+29.1%
5Y CAGR
+31.1%
10Y CAGR
+13.6%

RACE free cash flow was €1.86B for fiscal 2025 (ended Dec 31, 2025), up 29.1% from fiscal 2024. Compound annual growth was +31.1% over 5 years and +13.6% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 11 fiscal years on file.

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue€7.15B€6.68B€5.97B€5.10B€4.27B€3.46B€3.77B€3.42B€3.42B€3.11B
Cost of revenue€3.45B€3.33B€3.00B€2.65B€2.08B€1.69B€1.81B€1.62B€1.65B€1.58B
Gross profit€3.69B€3.35B€2.97B€2.45B€2.19B€1.77B€1.96B€1.80B€1.77B€1.53B
Research and development€918.86M€894.09M€881.56M€775.57M€768.10M€707.38M€699.21M€643.04M€657.12M€613.63M
Selling, general and admin€642.49M€561.14M€462.58M€427.97M€348.02M€336.13M€343.18M€327.34M€329.06M€295.24M
Operating income€2.11B€1.89B€1.62B€1.23B€1.08B€716.13M€917.45M€826.51M€775.42M€595.08M
Interest expense€99.21M€88.31M€60.81M€27.14M€16.64M€36.63M€45.08M€33.83M€30.95M€21.31M
Pre-tax income€2.06B€1.89B€1.60B€1.18B€1.04B€667.03M€875.36M€802.94M€746.16M€567.35M
Income tax€464.12M€363.04M€344.90M€238.47M€209.09M€58.16M€176.66M€16.32M€208.76M€167.63M
Net income€1.60B€1.52B€1.25B€932.61M€830.77M€607.82M€695.82M€784.68M€535.39M€398.76M
EPS, basic€8.97€8.47€6.91€5.11€4.50€3.29€3.73€4.16€2.83€2.11
EPS, diluted€8.96€8.46€6.90€5.09€4.50€3.28€3.71€4.14€2.82€2.11
Diluted shares178.3M180.0M181.5M183.1M184.8M185.4M187.5M189.4M189.8M188.9M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents€1.47B€1.74B€1.12B€1.39B€1.34B€1.36B€897.95M€793.66M€647.71M€457.78M
Inventory€1.11B€1.09B€948.51M€674.66M€540.58M€460.62M€420.05M€391.06M€393.76M€324.00M
Current assets€4.82B€5.02B€3.99B€3.95B€3.36B€3.08B€2.64B€2.48B€2.08B€1.89B
Goodwill€785.18M€785.18M€785.18M€785.18M€785.18M€785.18M€785.18M€785.18M€785.18M€785.18M
Total assets€9.63B€9.50B€8.05B€7.77B€6.86B€6.26B€5.45B€4.85B€4.14B€3.85B
Total debt€2.88B€3.35B€2.48B€2.81B€2.63B€2.72B€2.09B€1.93B€1.81B€1.85B
Total liabilities€5.71B€5.95B€4.98B€5.16B€4.65B€4.47B€3.96B€3.50B€3.36B€3.52B
Shareholders' equity€3.91B€3.53B€3.07B€2.60B€2.21B€1.79B€1.49B€1.35B€783.94M€329.81M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow€2.35B€1.93B€1.72B€1.40B€1.28B€838.21M€1.31B€934.04M€662.80M€1.01B
Capital expenditures€485.21M€482.28M€381.76M€347.73M€352.32M€357.02M€352.15M€300.79M€188.90M€175.65M
Free cash flow€1.86B€1.44B€1.33B€1.06B€930.41M€481.19M€953.94M€633.25M€473.89M€829.65M
Investing cash flow-€944.14M-€987.11M-€866.45M-€805.41M-€732.74M-€708.03M-€701.07M-€636.94M-€379.44M-€320.46M
Financing cash flow-€1.67B-€324.76M-€1.11B-€553.56M-€579.67M€339.68M-€501.53M-€152.09M-€85.06M-€411.04M
Depreciation and amortization€661.94M€666.78M€662.30M€546.23M€455.99M€426.64M€351.95M€288.75M€260.61M€247.72M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY7.0%11.8%17.2%19.3%23.4%-8.1%10.1%0.1%10.0%8.8%
Net income growth, YoY4.9%21.6%34.3%12.3%36.7%-12.6%-11.3%46.6%34.3%38.5%
EPS growth, YoY5.9%22.6%35.6%13.1%37.2%-11.6%-10.4%46.8%33.6%38.8%
Gross margin51.7%50.1%49.8%48.0%51.3%51.3%52.1%52.6%51.7%49.1%
Operating margin29.5%28.3%27.1%24.1%25.2%20.7%24.4%24.2%22.7%19.2%
Net margin22.3%22.8%21.0%18.3%19.5%17.6%18.5%22.9%15.7%12.8%
Free cash flow margin26.1%21.6%22.4%20.7%21.8%13.9%25.3%18.5%13.9%26.7%
Return on equity40.9%43.1%40.8%35.8%37.6%34.0%46.8%58.0%68.3%120.9%
Return on assets16.6%16.0%15.6%12.0%12.1%9.7%12.8%16.2%12.9%10.4%
Debt to equity0.740.950.811.081.191.521.411.422.305.60

Source: XBRL data Ferrari N.V. files with the SEC, latest filing dated Feb 19, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

RACE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
RACE€7.15B+7.0%€1.60B22.3%$98.82B
TSLA$103.57B+8.3%$3.22B3.1%$1.36T
TM¥50.68T+5.5%¥3.85T7.6%$284.28B
GM$186.95B-0.3%$4.08B2.2%$75.35B
PCAR$29.08B-1.5%$2.76B9.5%$55.02B
F$186.97B-1.4%-$7.79B-4.2%$50.04B
HMC¥21.80T+0.5%-¥423.94B-1.9%$47.05B
RIVN$6.48B+11.1%-$2.98B-45.9%$19.40B
STLA€153.51B-2.1%-€22.33B-14.5%$12.86B

RACE FAQ

9 questions
  • What is RACE revenue?
    Ferrari N.V. (RACE) reported €7.15B of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 7.0% from the year before.
  • Is RACE profitable?
    Yes. Ferrari N.V. earned €1.60B in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 22.3%.
  • How much cash and debt does RACE have?
    Ferrari N.V. reported €1.47B in cash and cash equivalents and €2.88B of debt on its most recent balance sheet in SEC filings.
  • How fast is RACE revenue growing?
    Ferrari N.V.'s revenue changed +7.0% in fiscal 2025, to €7.15B. Its compound annual growth rate was +15.6% over 5 years and +9.6% over 10 years.
  • What is RACE gross margin?
    Ferrari N.V.'s gross profit was €3.69B on €7.15B of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 51.7%.
  • What is RACE free cash flow?
    Ferrari N.V. generated €1.86B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of €2.35B less capital expenditures.
  • What is RACE earnings per share?
    Diluted earnings per share were €8.96 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
  • When did RACE last report financial results?
    The latest statements here come from Ferrari N.V.'s 20-F filed on Feb 19, 2026, covering the period ended Dec 31, 2025.
  • Where does this RACE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Ferrari N.V. files with the SEC. It is provided for information only and is not investment advice.