Ferrari N.V.
Consumer CyclicalNYSE:RACE · New York Stock Exchange
-$10.09 today
Vol 0.27M · Avg 0.67M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$7.2B of revenue converted into $1.6B of net income for the selected period. Gross margin is 51.6% and net margin is 22.2%, showing how much revenue survives after costs and taxes. EPS is $9.00, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1B +7.0% | $6.7B +11.8% | $6.0B +17.2% | $5.1B +19.3% | $4.3B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $3.5B +3.7% | $3.3B +11.1% | $3.0B +13.1% | $2.6B +27.3% | $2.1B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $3.7B +10.3% | $3.3B +12.5% | $3.0B +21.6% | $2.4B +11.7% | $2.2B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 51.7% +1.5pp | 50.1% +0.3pp | 49.8% +1.8pp | 48.0% -3.3pp | 51.3% | 9.8% | 28.9% | 38.3% |
| Research & Development | $918.9M +2.8% | $894.1M +1.4% | $881.6M +13.7% | $775.6M +1.0% | $768.1M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $642.5M +14.5% | $561.1M +21.3% | $462.6M +8.1% | $428.0M +23.0% | $348.0M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $1.6B +9.6% | $1.5B +8.3% | $1.3B +11.7% | $1.2B +7.8% | $1.1B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $661.9M -0.7% | $666.8M +0.7% | $662.3M +21.3% | $546.2M +19.8% | $456.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $2.8B +6.6% | $2.6B +13.1% | $2.3B +29.5% | $1.8B +15.8% | $1.5B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 38.7% -0.1pp | 38.9% +0.4pp | 38.4% +3.7pp | 34.8% -1.0pp | 35.8% | 5.6% | 46.3% | 42.0% |
| Operating Income | $2.1B +10.8% | $1.9B +16.1% | $1.6B +31.2% | $1.2B +15.7% | $1.1B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 29.3% +1.0pp | 28.3% +1.0pp | 27.3% +2.9pp | 24.4% -0.8pp | 25.2% | 16.6% | 24.1% | 22.0% |
| Interest Income | $20.4M -35.2% | $31.5M +22.0% | $25.8M +463.6% | $4.6M -10.9% | $5.1M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $41.2M -12.0% | $46.8M +29.6% | $36.1M -33.4% | $54.2M +41.1% | $38.4M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$33.5M -1019.6% | -$3.0M +89.2% | -$27.8M +57.3% | -$65.0M -103.6% | -$31.9M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $2.1B +9.2% | $1.9B +17.9% | $1.6B +36.1% | $1.2B +13.0% | $1.0B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 28.9% +0.6pp | 28.3% +1.5pp | 26.8% +3.7pp | 23.1% -1.3pp | 24.4% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $464.1M +27.8% | $363.0M +5.3% | $344.9M +44.6% | $238.5M +14.0% | $209.1M | $1.3B | -$1.6B | $745.2M |
| Net Income | $1.6B +4.9% | $1.5B +21.6% | $1.3B +34.3% | $932.6M +12.3% | $830.8M | $4.9B | $4.8B | $4.7B |
| Net Margin | 22.3% -0.4pp | 22.8% +1.8pp | 21.0% +2.7pp | 18.3% -1.1pp | 19.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $9 +5.9% | $8 +22.6% | $7 +35.5% | $5 +13.3% | $5 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $9 +5.9% | $8 +22.6% | $7 +35.6% | $5 +13.1% | $5 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $178.6M -0.7% | $179.7M -0.8% | $181.2M -0.9% | $182.8M -0.9% | $184.4M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $178.3M -0.9% | $180.0M -0.8% | $181.5M -0.9% | $183.1M -0.9% | $184.7M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Marriott International, Inc.
NASDAQ:MAR
$105.55B
Hilton Worldwide Holdings Inc.
NYSE:HLT
$78.71B
Royal Caribbean Cruises Ltd.
NYSE:RCL
$78.60B
Airbnb, Inc.
NASDAQ:ABNB
$78.07B
Ross Stores, Inc.
NASDAQ:ROST
$77.45B
O'Reilly Automotive, Inc.
NASDAQ:ORLY
$74.89B
General Motors Company
NYSE:GM
$73.45B
Carvana Co.
NYSE:CVNA
$71.84B
Ford Motor Company
NYSE:F
$58.18B
AutoZone, Inc.
NYSE:AZO
$50.61B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does RACE generate?
Ferrari N.V. (RACE) reported $7.15B of revenue in fiscal 2025.
Is RACE profitable?
Ferrari N.V. (RACE) reported $1.60B of net income, with a net margin of 22.3%.
Explore More
Continue the stock analysis
Jump to another research area for this company.