Analyst Consensus ?
ConsensusBuy19 ratings
Bullish1473.7%
Neutral421.0%
Bearish15.3%
Ferrari N.V. · RACE · FY2025 Q4 · Calendar Q1 2026
Ferrari reported record FY2025 as FX and investment costs shape 2026
Ferrari's record FY2025, order book through 2027, personalization and new-model pipeline support demand, while 2026 execution depends on mix and pricing offsetting FX headwinds, higher industrial costs and investment.
Reported Before market openNYSEConsumer Cyclical
$72.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.49
Consensus $2.44
EPS surprise
+2.0%
Reported versus consensus
Reported revenue
$2.12B
Consensus $2.08B
Revenue surprise
+1.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+8.1%
Event window
SPY move
-0.3%
Same window
Abnormal move
+8.3%
Stock minus SPY
Volume
3.2×
Versus trailing sessions
Subsequent drift
-6.2%
Up to 20 sessions
RACESPY benchmark
Ask FN2 about RACE FY2025 Q4
Transcript, numbers and history already loaded
Why did RACE rise 8.1% after beating EPS estimates in FY2025 Q4?What changed in RACE's guidance and outlook in FY2025 Q4?Give me the bull and bear case for RACE after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The prior quarter analysis described a Q3 performance that led Ferrari to raise 2025 guidance. The FY2025 call analysis now reports record full-year results and maintained 2026 guidance; the order book remains strong through 2027, with FX and higher industrial costs identified as pressures.
Guidance delta
Management maintained 2026 guidance. The outlook assumes mix and pricing offset higher SG&A, capex and R&D; capex is expected to increase slightly.
Key takeaways
- FY2025 set records for revenue, EBIT and industrial free cash flow, according to the supplied call analysis.
- The order book extends through 2027, and management highlighted six new sports-car launches in 2025.
- Personalization and the new-model pipeline are described as demand drivers.
- Mix and pricing are expected to offset higher operating expenses and investment, but FX and industrial costs remain headwinds.
Management priorities
- Launch the Ferrari Luce and additional models, while developing the product mix across powertrains.
- Complete the new paint shop and e-Vortex test track.
- Expand brand engagement through flagship stores, racing and lifestyle initiatives.
- Manage FX and industrial-cost pressure while funding higher capex and R&D.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$414.77Previous close
$180Low
$433.17Average
$570High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Oct 5, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 30, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 31, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Mar 3, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 31, 2025 |
| Citigroup | Buy | Buy | Maintain | Oct 16, 2025 |
| HSBC | Buy | Hold | Upgrade | Oct 2, 2025 |
| Deutsche Bank | Buy | Hold | Upgrade | Sep 2, 2025 |
| Barclays | Overweight | Equal Weight | Upgrade | Mar 28, 2025 |
| B of A Securities | Buy | Buy | Maintain | Apr 10, 2024 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Dec 13, 2023 |
| Jefferies | Hold | Hold | Maintain | Aug 25, 2023 |
| CFRA | Strong Buy | Buy | Upgrade | May 5, 2023 |
| Goldman Sachs | Neutral | Sell | Upgrade | Apr 6, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 3, 2023 |
| Kepler Cheuvreux | Reduce | Hold | Downgrade | Dec 9, 2021 |
| Societe Generale | Buy | Hold | Upgrade | Nov 3, 2021 |
| Redburn Partners | Neutral | Buy | Downgrade | May 19, 2021 |
| Bank of America | Buy | Buy | Maintain | Jul 18, 2019 |
Named analyst price targets
Upside is calculated against the persisted previous close $414.77. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Zuzanna Pusz | $450 | $388.33 | +8.5% | Oct 5, 2026 |
| Morgan Stanley | Analyst unavailable | $456 | $402.05 | +9.9% | Sep 30, 2026 |
| Morgan Stanley | Analyst unavailable | $460 | $402.33 | +10.9% | Sep 10, 2026 |
| Bernstein | Stephen Reitman | $460 | $390.51 | +10.9% | Jul 31, 2026 |
| Morgan Stanley | Analyst unavailable | $442 | $390.55 | +6.6% | Jul 31, 2026 |
| UBS | Analyst unavailable | $490 | $397.73 | +18.1% | Jul 31, 2026 |
| Evercore ISI | Michael Binetti | $485 | $397.73 | +16.9% | Jul 31, 2026 |
| UBS | Analyst unavailable | $497 | $374.66 | +19.8% | Jul 2, 2026 |
| Morgan Stanley | Edouard Aubin | $438 | $354.91 | +5.6% | Jun 15, 2026 |
| Morgan Stanley | Analyst unavailable | $420 | $379.08 | +1.3% | Feb 16, 2026 |
| Bernstein | Stephen Reitman | $410 | $381.97 | -1.2% | Feb 11, 2026 |
| Bernstein | Stephen Reitman | $395 | $378.04 | -4.8% | Jan 9, 2026 |
| UBS | Analyst unavailable | $555 | $370.85 | +33.8% | Jan 9, 2026 |
| Barclays | Henning Cosman | $420 | $375.86 | +1.3% | Dec 9, 2025 |
| Morgan Stanley | Analyst unavailable | $425 | $393.21 | +2.5% | Dec 8, 2025 |
| Loop Capital Markets | Analyst unavailable | $481.67 | $395.15 | +16.1% | Dec 4, 2025 |
| UBS | Zuzanna Pusz | $563 | $391.46 | +35.7% | Nov 28, 2025 |
| Goldman Sachs | Analyst unavailable | $454 | $389.19 | +9.5% | Nov 23, 2025 |
| UBS | Analyst unavailable | $554 | $406.02 | +33.6% | Nov 5, 2025 |
| Evercore ISI | Analyst unavailable | $475 | $399.73 | +14.5% | Oct 31, 2025 |
| UBS | Analyst unavailable | $529 | $389.56 | +27.5% | Oct 16, 2025 |
| Bernstein | Daniel Roeska | $475 | $407.38 | +14.5% | Oct 10, 2025 |
| UBS | Analyst unavailable | $579 | $504.09 | +39.6% | Oct 3, 2025 |
| Berenberg Bank | Analyst unavailable | $570 | $504.09 | +37.4% | Oct 3, 2025 |
| HSBC | Analyst unavailable | $470 | $490.24 | +13.3% | Oct 2, 2025 |
| UBS | Susy Tibaldi | $560 | $474.14 | +35.0% | May 7, 2025 |
| UBS | Analyst unavailable | $460 | $426.82 | +10.9% | Mar 27, 2025 |
| Evercore ISI | Michael Binetti | $565 | $480.18 | +36.2% | Oct 22, 2024 |
| Morgan Stanley | Adam Jonas | $520 | $488.3 | +25.4% | Aug 27, 2024 |
| UBS | Robert Krankowski | $478 | $422.1 | +15.2% | Jun 24, 2024 |
| Morgan Stanley | Adam Jonas | $400 | $417.96 | -3.6% | May 22, 2024 |
| Jefferies | James Grzinic | $403 | $407.43 | -2.8% | May 10, 2024 |
| Jefferies | Philippe Houchols | $408 | $427.66 | -1.6% | May 7, 2024 |
| Credit Suisse | Analyst unavailable | $310 | $260.4 | -25.3% | Feb 3, 2023 |
| UBS | Analyst unavailable | $270 | $212.02 | -34.9% | Aug 3, 2022 |
| Jefferies | Philippe Houchois | $180 | $187.94 | -56.6% | Jul 4, 2022 |
| UBS | Susy Tibaldi | $263 | $219.51 | -36.6% | Apr 9, 2022 |
| Societe Generale | Stephen Reitman | $290 | $255.68 | -30.1% | Nov 3, 2021 |
| BNP Paribas | Giulio Pescatore | $256 | $218.86 | -38.3% | Sep 16, 2021 |
Track every rating change on RACE the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFerrari N.V. is a renowned automotive manufacturer primarily engaged in the creation, engineering, production, and sale of an exclusive range of high-performance luxury automobiles. Its extensive vehicle lineup features diverse models, including traditional sports cars, Grand Tourers (GTs), specialized series editions, ultra-exclusive limited-edition hypercars, bespoke one-off vehicles, track-specific designs, and its distinctive Icona series. Beyond car manufacturing, the company also supplies motorsport vehicles, essential components like spare parts and engines, and delivers comprehensive after-sales services such as vehicle repair, maintenance, and restoration. Expanding its brand influence, Ferrari N.V. strategically licenses its iconic marque to various producers and retailers of upscale lifestyle merchandise.…
Historical context
All RACE earningsConsumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| BALL Ball Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.8% | -7.1% | Ball reports broad-based can-volume growth, with new capacity and cost risks ahead |
| YUM Yum! Brands, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.3% | -0.4% | Yum’s post-divestiture focus meets a Taco Bell recovery test |
| YUMC Yum China Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.8% | +1.6% | Yum China Q3: store expansion and new formats lift growth |
| APTV Aptiv PLC | FY2026 Q3 · Calendar Q4 2026 | +6.8% | -6.5% | Aptiv holds guidance as non-automotive bookings broaden its growth mix |
Latest beats and misses
Who reports nextBeat on EPS
- FTSFY2026 Q3 · November 3, 2026+4.8% EPS+0.7% move
- MPLXFY2026 Q3 · November 3, 2026+1.8% EPS-2.4% move
- AMEFY2026 Q3 · November 3, 2026+4.7% EPS+2.8% move
- BALLFY2026 Q3 · November 3, 2026+2.8% EPS-7.1% move
- RACEFY2026 Q3 · November 3, 2026+5.6% EPS+2.9% move
- MPCFY2026 Q3 · November 3, 2026+6.1% EPS-0.7% move
Missed on EPS
- TLNFY2026 Q3 · November 3, 2026-65.4% EPS+7.3% move
- APOSFY2026 Q3 · November 3, 2026-5.5% EPS-0.5% move
- TRIFY2026 Q3 · November 3, 2026-9.0% EPS-9.9% move
- APOFY2026 Q3 · November 3, 2026-5.5% EPS-4.9% move
- FMSFY2026 Q3 · November 3, 2026-1.7% EPS-3.9% move
- PSFY2026 Q3 · November 2, 2026-1.5% EPS+0.1% move
Get the RACE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-04T12:40:45.986012+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T12:40:45.983258+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.