Core Viewpoint - Ferrari N.V. is set to release its financial results for the full year and fourth quarter of 2025 on February 10, 2026, indicating a scheduled communication of its financial performance to stakeholders [1]. Group 1 - The financial results announcement will include a live audio webcast and conference call starting at 2:00 p.m. GMT / 3:00 p.m. CET / 9:00 a.m. EST on the specified date [1]. - Access to the presentation will be available in the Investors section of Ferrari's corporate website, with prior registration required for the conference call [2]. - A replay of the conference call will be archived on Ferrari's corporate website for two weeks following the live session, allowing stakeholders to review the information at a later time [2].

Maranello (Italy), December 16 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 360 million share buyback program announced on July 31, 2025, as the eighth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Eighth Tranche”), the additional common shares - reported in aggregate form, on a daily basis - ...

分组1 - Ferrari's shares have decreased nearly 25% since the October Investor Day due to unambitious guidance for the rest of the decade [1]

Core Viewpoint - UBS has raised its price target on Ferrari to $563 from $554 while maintaining a Buy rating, highlighting Ferrari's conservative targets and disciplined pricing strategy compared to other luxury brands [1] Group 1: Financial Projections - UBS expects organic sales growth of 6% in the first half of 2026 and 10% in the second half, indicating a stronger performance in the latter part of the year [1] - The firm believes that 2026 could be a pivotal year for Ferrari, projecting mid-single-digit annual revenue growth and a 40% EBITDA margin by 2030 as realistic targets [2] Group 2: Market Positioning - Ferrari's shares are currently trading at about a 30% discount to RMS, positioned at the lower end of the stock's five-year valuation range, suggesting potential for a re-rating as investors anticipate a broader luxury market rebound [3] - Addressing investor concerns about the sustainability of Ferrari's business model could enhance its status as a compelling long-term growth story within the luxury sector [2]

Core Viewpoint - Ferrari's high valuation may seem excessive at first, but its unique business model and financial performance justify the premium, positioning it more like a luxury brand than a traditional automaker [1][2][12]. Financial Metrics - Ferrari's P/E ratio stands at 41, with an EV/EBITDA multiple near 29 and a price-to-sales ratio above 11, which are significantly higher than traditional automakers [2][3]. - The company boasts an adjusted EBITDA margin of 38.3%, an operating margin of 28.3%, and a gross margin close to 50% for 2024, aligning it more with luxury brands like LVMH and Hermès [3][4]. Revenue Streams - Approximately 15% of Ferrari's revenue is derived from sponsorships, licensing, financial services, and after-sales, contributing to predictable cash flow and stability [6][7]. - The return on invested capital (ROIC) is around 24%, which is double that of LVMH, indicating strong financial health [8]. Business Model - Ferrari operates on a scarcity-driven model, producing fewer cars than demand, which maintains multiyear waiting lists and rising resale values, thus preserving pricing power [9]. - The company focuses on reinvesting in innovation and returning capital to shareholders without pursuing scale, allowing it to maintain its luxury status [9][12]. Market Position - Despite being valued at 42 times earnings, Ferrari's unique characteristics and brand durability suggest that it is not a conventional company, and its premium may be justified [10][12]. - The brand's emotional appeal insulates it from economic downturns, keeping demand stable even during weaker macroeconomic conditions [6][12]. Future Outlook - If Ferrari successfully blends scarcity with innovation, its elevated valuation could remain sustainable over the long term [13].

Core Insights - Ferrari NV reported stronger-than-expected third-quarter results, which positively impacted its share price following a challenging month for the company [1] Financial Performance - The company exceeded Wall Street's earnings expectations, indicating robust financial health and operational performance [1]

Core Insights - Ferrari has released its Q3 2025 earnings report following a negative sentiment triggered by the Capital Markets Day, resulting in a 25% decline in stock price [1] Financial Performance - The earnings report indicates a significant downturn in investor sentiment, with the stock price dropping substantially [1] Investment Perspective - The focus on sustained profitability is emphasized, highlighting the importance of strong margins, stable and expanding free cash flow, and high returns on invested capital as reliable drivers of returns [1]

Core Insights - US Auto Trust has acquired Boardwalk Auto Group, expanding its luxury dealership portfolio to include high-end brands like Ferrari, Lamborghini, Maserati, Pagani, and Czinger [1][2] Company Overview - The acquisition adds nine luxury franchises to US Auto Trust's portfolio, which already includes two Aston Martin dealerships and Lotus of San Diego, among others [3] - The founder of US Auto Trust, Ed Glazer, emphasizes the importance of delivering an ownership experience that aligns with the legacy of the acquired brands [2] Market Trends - The luxury vehicle segment is increasingly significant, with cars priced over $70,000 making up 14.1% of retail auto purchases in the U.S. during the first half of 2025, a substantial increase from 3.9% in 2019 [4] - Wealthier households are driving the current auto market, benefiting from favorable loan rates and capital access, which supports the high-end market [5] Franchise Value - The Ferrari franchise is highlighted as a particularly valuable asset within the Boardwalk acquisition, with only about 50 Ferrari dealerships in the U.S. that change ownership infrequently [5][6] - Owning a Ferrari franchise is likened to owning a sports team, where profitability can vary, but the franchises are considered tremendously valuable [6]

Core Insights - The automotive industry presents challenges due to its capital intensity, low growth, and cyclical demand, but opportunities exist for investment [1] - Ferrari distinguishes itself as a luxury brand with strong brand equity, prioritizing quality and maintaining supply below demand to enhance pricing power [2] Financial Performance - From 2014 to 2024, Ferrari's revenue and net income increased by 142% and 476%, respectively, with a trailing-10-year average operating margin of 24% [3] Valuation - Ferrari's stock has appreciated by 771% since its IPO in October 2015, leading to a price-to-earnings ratio of 49.4, which reflects its strong sales, profit growth, and brand strength, justifying a premium valuation [4]

Core Insights - Ferrari's stock experienced a significant decline of 7% following its Capital Markets Day, leading to a suspension of trading [1] Company Overview - Ferrari is focused on maintaining sustained profitability through strong margins, stable and expanding free cash flow, and high returns on invested capital [1] Investment Strategy - The investment approach emphasizes undervalued growth stocks and high-quality dividend growers, indicating a long-term perspective on investment returns [1]