STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026

Ferrari (NYSE: RACE) reported strong 2025 results with net revenues €7,146m (+7%), EBIT €2,110m (+12%) and an EBIT margin of 29.5%.

Rhea-AI Summary

Ferrari (NYSE: RACE) reported strong 2025 results with net revenues €7,146m (+7%), EBIT €2,110m (+12%) and an EBIT margin of 29.5%. EBITDA €2,772m (+8%) and industrial free cash flow €1,538m (+50%).

Ferrari provided 2026 guidance targeting ~€7.50bn revenues and a 39.0% EBITDA margin, citing product mix and personalizations as support for continued growth.

Positive

• Industrial free cash flow +50% to €1,538m
• Operating profit (EBIT) +12% to €2,110m with 29.5% margin
• 2026 guidance: ~€7.50bn revenues and 39.0% EBITDA margin

Negative

• Shipments down 112 units year-over-year to 13,640 units (≈1% decline)
• Quarter shipments declined 173 units to 3,152 units

Argus Feb 10 session

+8.06% close to close Open Argus

Details

News Market Reaction – RACE

On Feb 10, the day this news came out, RACE closed 8.06% above the previous close.

Data tracked by StockTitan Argus for the Feb 10 session.

Key Figures

Net revenues: €7,146 million Operating profit (EBIT): €2,110 million EBIT margin: 29.5% +5 more

Net revenues

€7,146 million

FY 2025, up 7% versus prior year

Operating profit (EBIT)

€2,110 million

FY 2025, up 12% versus prior year

EBIT margin

29.5%

FY 2025 operating profit margin

Net profit

€1,600 million

FY 2025 net profit

Diluted EPS

€8.96

FY 2025 diluted earnings per share

EBITDA

€2,772 million

FY 2025, up 8% versus prior year

EBITDA margin

38.8%

FY 2025 EBITDA margin

Industrial free cash flow

€1,538 million

FY 2025, up 50% versus prior year

Historical Context

5 past events · Latest: Feb 09

5 events

1. Feb 09

   Buyback update

   24h Move

   +0.7%

   Reported February buyback activity under the €250M first‑tranche program.

2. Feb 02

   Buyback update

   24h Move

   +0.9%

   Detailed January repurchases under the €250M first‑tranche buyback.

3. Jan 26

   Buyback update

   24h Move

   +0.6%

   Disclosed additional January share repurchases within the ~€3.5B program.

4. Jan 15

   Corporate calendar

   24h Move

   +0.3%

   Published 2026 earnings dates and AGM timing for 2025 financial statements.

5. Jan 12

   Buyback update

   24h Move

   +0.3%

   Announced early‑January share repurchases under the first‑tranche buyback.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebit, ebitda, free cash flow

3 terms

ebit financial

"Operating profit (EBIT) of Euro 2,110 million, up 12% versus prior year"

EBIT (Earnings Before Interest and Taxes) measures a company's profit from normal business operations after paying direct running costs but before subtracting interest on debt and income taxes. Think of it as how well a store does at selling its goods once everyday expenses are covered, ignoring loan payments and tax bills. Investors use EBIT to compare operational performance across companies without the distortion of different financing or tax situations.

View in glossary

ebitda financial

"EBITDA of Euro 2,772 million, up 8% versus prior year"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

free cash flow financial

"Industrial free cash flow of Euro 1,538 million, up 50% versus the prior year"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

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STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026

•  Net revenues of Euro 7,146 million, up 7% versus prior year
• Operating profit (EBIT) of Euro 2,110 million, up 12% versus prior year, with Operating profit (EBIT) margin of 29.5%
• Net profit of Euro 1,600 million and diluted EPS at Euro 8.96
• EBITDA of Euro 2,772 million, up 8% versus prior year, with EBITDA margin of 38.8%
• Industrial free cash flow of Euro 1,538 million, up 50% versus the prior year
• 2026 guidance targeting Euro ~7.50 billion revenues and 39.0% EBITDA margin, supported by strong product mix

Maranello (Italy), February 10, 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary unaudited results for the fourth quarter and twelve months ended December 31, 2025.

“In 2025, Ferrari confirmed the strength of its carefully-managed volume strategy, pursuing value” said Benedetto Vigna, CEO of Ferrari. “Our remarkable financial performance – with revenues up 7% to over Euro 7.1 billion, an EBIT margin up 120 basis points to 29.5%, and industrial free cash flow surpassing Euro 1.5 billion – was sustained by product mix, personalizations and sponsorships. Demand for Ferrari remains very solid and is managed with discipline in every market reflecting our exclusivity model: our order book extends towards the end of 2027. We remain true to our identity: forward-looking and defined by our will to progress”.

For the three months ended				(In Euro million,	For the twelve months ended
December 31,				unless otherwise stated)	December 31,
2025	2024	Change			2025	2024	Change
3,152	3,325	(173) units		Shipments (units)	13,640	13,752	(112) units
1,802	1,736	66	4%	Net revenues	7,146	6,677	469	7%
513	468	45	10%	Operating profit (EBIT)	2,110	1,888	222	12%
28.5%	27.0%	150 bps		Operating profit (EBIT) margin	29.5%	28.3%	120 bps
381	386	(5)	(1%)	Net profit	1,600	1,526	74	5%
2.14	2.14	-	-	Basic EPS (in Euro)	8.97	8.47	0.50	6%
2.14	2.14	-	-	Diluted EPS (in Euro)	8.96	8.46	0.50	6%
700	643	57	9%	EBITDA	2,772	2,555	217	8%
38.8%	37.0%	180 bps		EBITDA margin	38.8%	38.3%	50 bps
321	221	100	46%	Free Cash Flow from Industrial Activities	1,538	1,027	511	50%

Attachment

• 2026_02_10 - Ferrari FY 2025 Results Press Release

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Ferrari (RACE) full-year 2025 revenues and revenue growth?

Ferrari reported full-year 2025 revenues of €7,146 million, a 7% increase year-over-year. According to the company, growth was driven by product mix, personalizations and sponsorships supporting higher average selling prices.

How much industrial free cash flow did Ferrari (RACE) generate in 2025?

Ferrari generated industrial free cash flow of €1,538 million in 2025, up 50% versus 2024. According to the company, stronger cash conversion reflected operational performance and working capital improvements.

What guidance did Ferrari (RACE) provide for 2026 regarding revenues and margins?

Ferrari targets roughly €7.50 billion in revenues and a 39.0% EBITDA margin for 2026. According to the company, guidance is supported by product mix and ongoing personalization demand.

How did Ferrari's operating profit (EBIT) perform in 2025 and what was the margin?

Ferrari reported EBIT of €2,110 million in 2025, up 12% with a 29.5% margin. According to the company, margin expansion reflected favorable mix and disciplined pricing and cost control.

Did Ferrari (RACE) report any change in shipments for 2025 and Q4 2025?

Shipments totaled 13,640 units in 2025, down 112 units year-over-year, and Q4 shipments were 3,152 units, down 173 units. According to the company, demand remains solid and order book extends into late 2027.