{ "ticker": "RACE", "cik": "0001648416", "company": "Ferrari N.V.", "business_type": "industrial", "schema_template": "standard (luxury sports-car maker, IFRS): net revenues and their breakdown by category, cost of sales, SG&A, R&D, operating profit (EBIT), net profit, EPS; balance sheet including receivables from financing activities and total debt; cash flow with Ferrari's own free cash flow definition; EBITDA, free cash flow from industrial activities and net industrial (debt)/cash as the company's non-GAAP measures; car shipments", "reporting_currency": "EUR", "converted_to_usd": true, "units": "actual US dollars (not millions), converted from euros; per-share figures are per common share (Ferrari's common shares are themselves listed on the New York Stock Exchange, so there is no depositary ratio); share counts are actual shares; cash outflows are negative, as the cash flow statement prints them; shipments are numbers of cars", "units_notes_seen": { "FY2025 Form 20-F consolidated income statement": "(\u20ac thousand); earnings per share rows 'Basic/Diluted earnings per common share (in \u20ac)'", "FY2025 Form 20-F consolidated statement of financial position": "(\u20ac thousand)", "FY2025 Form 20-F consolidated statement of cash flows": "(\u20ac thousand)", "FY2025 Form 20-F earnings per share table (Item 5, non-GAAP measures)": "net profit in \u20ac million; weighted average number of common shares in 'thousand'; earnings per share in \u20ac", "FY2025 Form 20-F Note 4 net revenues": "(\u20ac thousand)", "FY2025 Form 20-F EBITDA, free cash flow and net debt tables (Item 5)": "(\u20ac million)", "FY2025 Form 20-F shipments table (Item 4)": "(Number of cars and % of total cars)", "Q3 2026 interim consolidated income statement": "(\u20ac thousand); earnings per share rows 'Basic/Diluted earnings per common share (in \u20ac)'", "Q3 2026 interim consolidated statement of financial position": "(\u20ac thousand)", "Q3 2026 interim consolidated statement of cash flows (nine-month columns only)": "(\u20ac thousand)", "Q3 2026 interim Note 13 earnings per share": "profit in \u20ac thousand; weighted average number of common shares in 'thousand'; earnings per share in \u20ac", "Q3 2026 interim Note 6 net revenues": "(\u20ac thousand)", "Q3 2026 interim EBITDA, free cash flow and net (debt)/cash tables (management's discussion)": "(\u20ac million)", "Q3 2026 interim shipments table": "(Number of cars and % of total cars)", "Q3 2026 interim Note 5 exchange rates": "U.S. Dollar per euro, average for the period and at period end", "Q3 2026 results release free cash flow reconciliation": "(Euro million)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "per_share_basis": "Ferrari is not an ADR issuer. The cover of the FY2025 Form 20-F lists its common shares (par value EUR 0.01 each) as registered on the New York Stock Exchange under the symbol RACE, so every per-share figure here is per common share, which is what a US holder owns.", "fx": "Ferrari reports in euros. Every money figure is converted to US dollars: income statement, cash flow, EBITDA, free cash flow and per-share figures at the average euro rate for the period, balance sheet positions and net debt at the rate on the balance sheet date. Where the filings state the rate Ferrari itself used to translate US dollars, that rate is applied: the FY2025 Form 20-F gives U.S. Dollar 1.1300 per euro (2025 average) and 1.1750 (December 31, 2025), 1.0824 (2024 average) and 1.0389 (December 31, 2024), and 1.0814 (2023 average); the Q3 2026 interim report gives 1.1610 (nine-month 2026 average), 1.1188 (nine-month 2025 average) and 1.1355 (September 30, 2026). The filings state no three-month or trailing twelve-month average, so the two quarters and the trailing twelve months are converted at the average of the Federal Reserve's daily US dollar/euro rates for those dates. Each period records the rate it was converted at under 'conversion'. Because different periods use different rates, quarters converted at quarterly rates will not sum exactly to the nine-month or full-year US dollar figures." }, "annual": [ { "fiscal_year": 2025, "label": "FY2025", "period_start": "2025-01-01", "period_end": "2025-12-31", "period_type": "fiscal year", "source_accession": "0001648416-26-000024", "accounting_basis": "IFRS consolidated financial statements (audited, Form 20-F)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.884956, "source": "FY2025 Form 20-F, note on consolidation of foreign entities (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.1300 per euro, 2025 average (0.884956 euro per US dollar)" }, "closing": { "eur_per_usd": 0.851064, "source": "FY2025 Form 20-F, note on consolidation of foreign entities (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.1750 per euro at December 31, 2025 (0.851064 euro per US dollar)" } }, "income_statement": { "net_revenues": 8074715579, "cost_of_sales": 3901856137, "selling_general_and_administrative_costs": 726013497, "research_and_development_costs": 1038312639, "other_expenses_net": 38761249, "result_from_investments": 14206356, "operating_profit": 2383978412, "financial_income": 190003797, "financial_expenses": 242075312, "financial_expenses_income_net": 52071515, "profit_before_taxes": 2331906897, "income_tax_expense": 524454323, "net_income": 1807452574, "net_income_attributable_to_owners_of_the_parent": 1804517965, "net_income_attributable_to_noncontrolling_interests": 2934609, "basic_eps": 10.1361, "diluted_eps": 10.1248, "basic_shares": 178125000, "diluted_shares": 178321000, "net_revenues_by_category": { "cars_and_spare_parts": 6785922690, "sponsorship_commercial_and_brand": 926092371, "other": 362700518 } }, "balance_sheet": { "goodwill": 922588665, "intangible_assets": 1925186590, "property_plant_and_equipment": 2418021441, "total_non_current_assets": 5644674196, "inventories": 1308836938, "trade_receivables": 423398240, "receivables_from_financing_activities": 1895739921, "cash_and_cash_equivalents": 1724560080, "total_current_assets": 5668637141, "total_assets": 11313311337, "equity_attributable_to_owners_of_the_parent": 4590598357, "noncontrolling_interests": 9222573, "total_equity": 4599820930, "employee_benefits": 170720416, "provisions": 216765132, "deferred_tax_liabilities": 298904665, "total_debt": 3388957822, "other_liabilities": 1635148473, "other_financial_liabilities": 8700873, "trade_payables": 988475602, "tax_payables": 5817424, "total_equity_and_liabilities": 11313311337 }, "cash_flow": { "amortization_and_depreciation": 747988601, "operating_cash_flow": 2654715037, "investments_in_property_plant_and_equipment": -548287146, "investments_in_intangible_assets": -517512735, "investing_cash_flow": -1066875641, "dividends_paid_to_owners_of_the_parent": -598568742, "share_repurchases": -887421522, "financing_cash_flow": -1883886883, "capex": -1065799882, "free_cash_flow": 1588915155 }, "non_gaap_measures": { "ebitda": 3132359123, "free_cash_flow_from_industrial_activities": 1734549514, "net_debt_cash": -1664974667, "net_industrial_debt_cash": -37599992 }, "operating_data": { "shipments_units": 13640 } }, { "fiscal_year": 2024, "label": "FY2024", "period_start": "2024-01-01", "period_end": "2024-12-31", "period_type": "fiscal year", "source_accession": "0001648416-26-000024", "accounting_basis": "IFRS consolidated financial statements (audited, Form 20-F)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.923873, "source": "FY2025 Form 20-F, note on consolidation of foreign entities (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.0824 per euro, 2024 average (0.923873 euro per US dollar)" }, "closing": { "eur_per_usd": 0.962557, "source": "FY2025 Form 20-F, note on consolidation of foreign entities (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.0389 per euro at December 31, 2024 (0.962557 euro per US dollar)" } }, "income_statement": { "net_revenues": 7226824466, "cost_of_sales": 3603831912, "selling_general_and_administrative_costs": 607382183, "research_and_development_costs": 967765050, "other_expenses_net": 13468301, "result_from_investments": 8924387, "operating_profit": 2043301406, "financial_income": 159221018, "financial_expenses": 157916727, "financial_expenses_income_net": -1304292, "profit_before_taxes": 2044605698, "income_tax_expense": 392957690, "net_income": 1651648008, "net_income_attributable_to_owners_of_the_parent": 1647279442, "net_income_attributable_to_noncontrolling_interests": 4368566, "basic_eps": 9.1679, "diluted_eps": 9.1571, "basic_shares": 179743000, "diluted_shares": 179992000, "net_revenues_by_category": { "cars_and_spare_parts": 6199648653, "sponsorship_commercial_and_brand": 724965444, "other": 302210369 } }, "balance_sheet": { "goodwill": 815725199, "intangible_assets": 1605789579, "property_plant_and_equipment": 1899922810, "total_non_current_assets": 4651405579, "inventories": 1130524218, "trade_receivables": 362758777, "receivables_from_financing_activities": 1726268678, "cash_and_cash_equivalents": 1809985279, "total_current_assets": 5215174790, "total_assets": 9866580369, "equity_attributable_to_owners_of_the_parent": 3671414784, "noncontrolling_interests": 9653454, "total_equity": 3681068238, "employee_benefits": 139365253, "provisions": 214233547, "deferred_tax_liabilities": 114295569, "total_debt": 3482274816, "other_liabilities": 1149252460, "other_financial_liabilities": 64301647, "trade_payables": 982442598, "tax_payables": 39346241, "total_equity_and_liabilities": 9866580369 }, "cash_flow": { "amortization_and_depreciation": 721719327, "operating_cash_flow": 2085412172, "investments_in_property_plant_and_equipment": -522016554, "investments_in_intangible_assets": -548640343, "investing_cash_flow": -1068447720, "dividends_paid_to_owners_of_the_parent": -476167179, "share_repurchases": -628965237, "financing_cash_flow": -351521259, "capex": -1070656898, "free_cash_flow": 1014755275 }, "non_gaap_measures": { "ebitda": 2765531626, "free_cash_flow_from_industrial_activities": 1111624650, "net_debt_cash": -1672628218, "net_industrial_debt_cash": -187001913 }, "operating_data": { "shipments_units": 13752 } }, { "fiscal_year": 2023, "label": "FY2023", "period_start": "2023-01-01", "period_end": "2023-12-31", "period_type": "fiscal year", "source_accession": "0001648416-26-000024", "accounting_basis": "IFRS consolidated financial statements (audited, Form 20-F)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.924727, "source": "FY2025 Form 20-F, note on consolidation of foreign entities (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.0814 per euro, 2023 average (0.924727 euro per US dollar)" } }, "income_statement": { "net_revenues": 6456117319, "cost_of_sales": 3239742108, "selling_general_and_administrative_costs": 500234123, "research_and_development_costs": 953318114, "other_expenses_net": 20436302, "result_from_investments": 6636553, "operating_profit": 1749023225, "financial_income": 143089798, "financial_expenses": 159327023, "financial_expenses_income_net": 16237225, "profit_before_taxes": 1732786001, "income_tax_expense": 372971699, "net_income": 1359814302, "net_income_attributable_to_owners_of_the_parent": 1353965008, "net_income_attributable_to_noncontrolling_interests": 5849294, "basic_eps": 7.4725, "diluted_eps": 7.4617, "basic_shares": 181220000, "diluted_shares": 181511000, "net_revenues_by_category": { "cars_and_spare_parts": 5535883563, "sponsorship_commercial_and_brand": 618300320, "other": 301933435 } }, "cash_flow": { "amortization_and_depreciation": 716216786, "operating_cash_flow": 1856371664, "investments_in_property_plant_and_equipment": -412837519, "investments_in_intangible_assets": -526801964, "investing_cash_flow": -936981401, "dividends_paid_to_owners_of_the_parent": -355381642, "share_repurchases": -498124311, "financing_cash_flow": -1199712996, "capex": -939639483, "free_cash_flow": 916732181 }, "non_gaap_measures": { "ebitda": 2464511148, "free_cash_flow_from_industrial_activities": 1007865024 }, "operating_data": { "shipments_units": 13663 } } ], "quarterly": [ { "fiscal_year": 2026, "fiscal_quarter": 3, "label": "Q3 2026", "period_start": "2026-07-01", "period_end": "2026-09-30", "period_type": "three months", "source_accession": "0001628280-26-069195", "cash_flow_source_accession": "0001648416-26-000141", "accounting_basis": "IFRS interim condensed consolidated financial statements (unaudited, furnished on Form 6-K)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.869132, "source": "FRED DEXUSEU, average of 64 daily rates 2026-07-01 to 2026-09-30" }, "closing": { "eur_per_usd": 0.880669, "source": "Q3 2026 interim report, Note 5 Other information (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.1355 per euro at September 30, 2026 (0.880669 euro per US dollar)" } }, "income_statement": { "net_revenues": 2181730738, "cost_of_sales": 1038304883, "selling_general_and_administrative_costs": 199912096, "research_and_development_costs": 289393326, "other_expenses_net": 9430098, "result_from_investments": 3319404, "operating_profit": 648009738, "financial_income": 34959017, "financial_expenses": 39743100, "financial_expenses_income_net": 4784083, "profit_before_taxes": 643225655, "income_tax_expense": 147940704, "net_income": 495284951, "net_income_attributable_to_owners_of_the_parent": 494641781, "net_income_attributable_to_noncontrolling_interests": 643170, "basic_eps": 2.8189, "diluted_eps": 2.8074, "basic_shares": 175730000, "diluted_shares": 175931000, "net_revenues_by_category": { "cars_and_spare_parts": 1824756194, "sponsorship_commercial_and_brand": 253358523, "other": 103616022 } }, "balance_sheet": { "goodwill": 891574473, "intangible_assets": 1955391867, "property_plant_and_equipment": 2451964359, "total_non_current_assets": 5695278249, "inventories": 1412838422, "trade_receivables": 413071199, "receivables_from_financing_activities": 2129649164, "cash_and_cash_equivalents": 1963026972, "total_current_assets": 6144844431, "total_assets": 11840122679, "equity_attributable_to_owners_of_the_parent": 4441004509, "noncontrolling_interests": 8030259, "total_equity": 4449034768, "employee_benefits": 149985977, "provisions": 195388960, "deferred_tax_liabilities": 313060866, "total_debt": 3544758587, "other_liabilities": 1865803156, "other_financial_liabilities": 78731056, "trade_payables": 1015082852, "tax_payables": 228276458, "total_equity_and_liabilities": 11840122679 }, "cash_flow": { "operating_cash_flow": 847972460, "capex": -260029547, "free_cash_flow": 587942913 }, "non_gaap_measures": { "ebitda": 866381631, "free_cash_flow_from_industrial_activities": 652375013, "net_debt_cash": -1581752054, "net_industrial_debt_cash": 248674587 }, "operating_data": { "shipments_units": 3368 } }, { "fiscal_year": 2025, "fiscal_quarter": 3, "label": "Q3 2025", "period_start": "2025-07-01", "period_end": "2025-09-30", "period_type": "three months", "source_accession": "0001628280-26-069195", "cash_flow_source_accession": "0001648416-26-000141", "accounting_basis": "IFRS interim condensed consolidated financial statements (unaudited, furnished on Form 6-K)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.855766, "source": "FRED DEXUSEU, average of 64 daily rates 2025-07-01 to 2025-09-30" } }, "income_statement": { "net_revenues": 2063830533, "cost_of_sales": 1030865914, "selling_general_and_administrative_costs": 187354955, "research_and_development_costs": 259617699, "other_expenses_net": 2570796, "result_from_investments": 3432013, "operating_profit": 586853182, "financial_income": 26708236, "financial_expenses": 41701820, "financial_expenses_income_net": 14993585, "profit_before_taxes": 571859597, "income_tax_expense": 125807756, "net_income": 446051841, "net_income_attributable_to_owners_of_the_parent": 445593772, "net_income_attributable_to_noncontrolling_interests": 458069, "basic_eps": 2.5007, "diluted_eps": 2.5007, "basic_shares": 178148000, "diluted_shares": 178348000, "net_revenues_by_category": { "cars_and_spare_parts": 1728264502, "sponsorship_commercial_and_brand": 246482099, "other": 89083932 } }, "cash_flow": { "operating_cash_flow": 687103718, "capex": -268765060, "free_cash_flow": 418338658 }, "non_gaap_measures": { "ebitda": 782924304, "free_cash_flow_from_industrial_activities": 462743320 }, "operating_data": { "shipments_units": 3401 } } ], "year_to_date": { "label": "Nine months ended September 30, 2026", "period_start": "2026-01-01", "period_end": "2026-09-30", "period_type": "nine months", "source_accession": "0001628280-26-069195", "accounting_basis": "IFRS interim condensed consolidated financial statements (unaudited, furnished on Form 6-K)", "prior_year_comparative": { "label": "Nine months ended September 30, 2025", "period_start": "2025-01-01", "period_end": "2025-09-30", "period_type": "nine months", "source_accession": "0001628280-26-069195", "accounting_basis": "IFRS interim condensed consolidated financial statements (unaudited, furnished on Form 6-K)", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.893815, "source": "Q3 2026 interim report, Note 5 Other information (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.1188 per euro, average for the nine months ended September 30, 2025 (0.893815 euro per US dollar)" } }, "income_statement": { "net_revenues": 5979379402, "cost_of_sales": 2893508164, "selling_general_and_administrative_costs": 525132158, "research_and_development_costs": 760732366, "other_expenses_net": 22811208, "result_from_investments": 9347572, "operating_profit": 1786543077, "financial_income": 160019691, "financial_expenses": 198277048, "financial_expenses_income_net": 38257358, "profit_before_taxes": 1748285719, "income_tax_expense": 384622097, "net_income": 1363663622, "net_income_attributable_to_owners_of_the_parent": 1361839978, "net_income_attributable_to_noncontrolling_interests": 1823644, "basic_eps": 7.6414, "diluted_eps": 7.6302, "basic_shares": 178340000, "diluted_shares": 178540000, "net_revenues_by_category": { "cars_and_spare_parts": 5059350089, "sponsorship_commercial_and_brand": 678872026, "other": 241157286 } }, "cash_flow": { "amortization_and_depreciation": 531446664, "operating_cash_flow": 2047570247, "investments_in_property_plant_and_equipment": -385906480, "investments_in_intangible_assets": -389707042, "investing_cash_flow": -775756728, "dividends_paid_to_owners_of_the_parent": -592625991, "share_repurchases": -622107483, "financing_cash_flow": -1620435996, "capex": -775613522, "free_cash_flow": 1271956725 }, "non_gaap_measures": { "ebitda": 2318153085, "free_cash_flow_from_industrial_activities": 1358222898 }, "operating_data": { "shipments_units": 10488 } }, "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.861326, "source": "Q3 2026 interim report, Note 5 Other information (principal exchange rates used to translate other currencies into euro): U.S. Dollar 1.1610 per euro, average for the nine months ended September 30, 2026 (0.861326 euro per US dollar)" } }, "income_statement": { "net_revenues": 6596869246, "cost_of_sales": 3147722233, "selling_general_and_administrative_costs": 606505551, "research_and_development_costs": 829192431, "other_expenses_net": 31526971, "result_from_investments": 10712553, "operating_profit": 1992634612, "financial_income": 93314262, "financial_expenses": 115849284, "financial_expenses_income_net": 22535022, "profit_before_taxes": 1970099591, "income_tax_expense": 453122279, "net_income": 1516977312, "net_income_attributable_to_owners_of_the_parent": 1515123194, "net_income_attributable_to_noncontrolling_interests": 1854118, "basic_eps": 8.5914, "diluted_eps": 8.5798, "basic_shares": 176309000, "diluted_shares": 176510000, "net_revenues_by_category": { "cars_and_spare_parts": 5539412487, "sponsorship_commercial_and_brand": 751325282, "other": 306131476 } }, "cash_flow": { "amortization_and_depreciation": 596298033, "operating_cash_flow": 2364715566, "investments_in_property_plant_and_equipment": -397157406, "investments_in_intangible_assets": -432617847, "investing_cash_flow": -820589417, "dividends_paid_to_owners_of_the_parent": -736804648, "share_repurchases": -705566766, "financing_cash_flow": -1246699856, "capex": -829775254, "free_cash_flow": 1534940313 }, "non_gaap_measures": { "ebitda": 2589031331, "free_cash_flow_from_industrial_activities": 1736856893 }, "operating_data": { "shipments_units": 10170 } }, "trailing_twelve_months": { "label": "Twelve months ended September 30, 2026 (derived)", "period_start": "2025-10-01", "period_end": "2026-09-30", "period_type": "trailing twelve months", "source_accession": "0001628280-26-069195", "derivation": "FY2025 (Form 20-F, accession 0001648416-26-000024) plus the nine months ended September 30, 2026 less the nine months ended September 30, 2025 (Q3 2026 interim report, accession 0001628280-26-069195), computed in euros and then converted at the average rate for the twelve months", "conversion": { "currency": "EUR", "average": { "eur_per_usd": 0.860665, "source": "FRED DEXUSEU, average of 250 daily rates 2025-10-01 to 2026-09-30" } }, "income_statement": { "net_revenues": 8694862693, "cost_of_sales": 4157163356, "selling_general_and_administrative_costs": 808116979, "research_and_development_costs": 1107413454, "operating_profit": 2590072793, "profit_before_taxes": 2553710212, "income_tax_expense": 593290072, "net_income": 1960420140, "net_income_attributable_to_owners_of_the_parent": 1957441048 }, "cash_flow": { "operating_cash_flow": 2969736192, "capex": -1120805424, "free_cash_flow": 1848930769 }, "non_gaap_measures": { "ebitda": 3404344315 } }, "notes": [ "Annual figures (FY2025, FY2024, FY2023) come from the audited IFRS consolidated financial statements in the FY2025 Form 20-F (accession 0001648416-26-000024). The FY2023 balance sheet is not included because that 20-F presents the statement of financial position only at December 31, 2025 and 2024.", "Q3 2026, Q3 2025 and the nine-month figures come from the unaudited interim condensed consolidated financial statements in Ferrari's Q3 2026 interim report, furnished on Form 6-K (accession 0001628280-26-069195). That report compares the September 30, 2026 balance sheet with December 31, 2025, so there is no September 30, 2025 balance sheet in this record.", "Ferrari's interim statement of cash flows covers the nine months only. The three-month operating cash flow, capital expenditures, free cash flow and free cash flow from industrial activities shown for Q3 2026 and Q3 2025 are taken from the free cash flow reconciliation in the Q3 2026 results press release furnished the same day on Form 6-K (accession 0001648416-26-000141), which prints them rounded to the nearest euro million.", "Capital expenditures follow Ferrari's own definition: investments in property, plant and equipment plus investments in intangible assets (mainly capitalized development costs), excluding right-of-use assets under IFRS 16. For the full years and the nine-month periods, capex is the sum of those two cash flow statement lines and free cash flow is operating cash flow less that capex; the results tie to Ferrari's own free cash flow tables (EUR 1,406 million for 2025, EUR 938 million for 2024, EUR 848 million for 2023, EUR 1,322 million for the first nine months of 2026 and EUR 1,137 million for the first nine months of 2025). Cash outflows are shown as negative numbers.", "EBITDA, free cash flow from industrial activities, net (debt)/cash and net industrial (debt)/cash are Ferrari's non-GAAP measures, printed in euro millions. EBITDA is net profit before income tax expense, net financial expenses and amortization and depreciation; Ferrari reported no adjustments, so adjusted EBITDA, adjusted EBIT, adjusted net profit and adjusted EPS equal the reported figures in every period here. Free cash flow from industrial activities excludes the operating cash flow of Ferrari Financial Services Inc., the US client-financing subsidiary. Net industrial (debt)/cash excludes that subsidiary's debt (mainly securitizations) and cash; a positive value is net cash and a negative value is net debt: net industrial cash of EUR 219 million at September 30, 2026, against net industrial debt of EUR 32 million at December 31, 2025 and EUR 180 million at December 31, 2024.", "The Q3 2026 results release states that free cash flow from industrial activities for the three and nine months ended September 30, 2025 has been re-presented to include EUR 32 million mainly related to withholding taxes, which were paid in the third quarter, and that starting from the three and six months ended June 30, 2026 the measure excludes withholding taxes. The Q3 2025 (EUR 396 million) and nine-month 2025 (EUR 1,214 million) figures here are the re-presented ones; the FY2025, FY2024 and FY2023 figures are as printed in the FY2025 Form 20-F.", "Total debt is the 'Debt' line of the statement of financial position. It includes the asset-backed securitization financing of the US financial services business (EUR 1,458 million at September 30, 2026) and lease liabilities. The statement of financial position prints no total-liabilities subtotal, so liabilities are listed line by line and no total is shown.", "financial_expenses_income_net is shown as Ferrari prints it: a positive value is a net financial expense; the negative FY2024 value is net financial income.", "Net income is total net profit; diluted EPS is struck on net profit attributable to owners of the parent, shown separately. Share counts are weighted averages, from the earnings per share tables.", "The trailing twelve months to September 30, 2026 are derived as FY2025 plus the first nine months of 2026 less the first nine months of 2025, computed in euros before conversion. Per-share figures and free cash flow from industrial activities are not derived for that period.", "Shipments exclude strictly limited racing cars (such as the XX Programme and the 499P Modificata), one-off and pre-owned cars, and other special sales, as the filings state." ], "uncertainties": [ "The Q3 2026 and Q3 2025 cash flow figures (operating cash flow, capex, free cash flow, free cash flow from industrial activities) are rounded euro-million amounts from the results press release rather than from a statement of cash flows; no three-month statement of cash flows is published.", "Free cash flow from industrial activities for 2026 and the re-presented 2025 interim periods may not be on exactly the same basis as the FY2025, FY2024 and FY2023 figures printed in the Form 20-F, because of the change in how withholding taxes are treated described in the Q3 2026 results release.", "The quarterly and trailing twelve-month US dollar figures use average market rates rather than a rate Ferrari states, so they are not on precisely the same conversion basis as the full-year and nine-month figures." ], "headline": { "period": "Q3 FY2026", "period_end_words": "September 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 2181730738, "text": "$2.18 billion", "exact": "$2,181,730,738", "compact": "$2.18B", "abs": "$2.18 billion", "prior_value": 2063830533, "prior": "$2.06 billion", "priorabs": "$2.06 billion", "yoy": "up 5.7%", "source": { "array": "quarterly", "field": "income_statement.net_revenues", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001628280-26-069195", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001628280-26-069195", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 494641781, "text": "$494.64 million", "exact": "$494,641,781", "compact": "$494.64M", "abs": "$494.64 million", "prior_value": 445593772, "prior": "$445.59 million", "priorabs": "$445.59 million", "yoy": "up 11.0%", "source": { "array": "quarterly", "field": "income_statement.net_income_attributable_to_owners_of_the_parent", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001628280-26-069195", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001628280-26-069195", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 2.8074, "text": "$2.81", "exact": "$2.81", "compact": "$2.81", "abs": "$2.81", "prior_value": 2.5007, "prior": "$2.50", "priorabs": "$2.50", "yoy": "up 12.3%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001628280-26-069195", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001628280-26-069195", "gap_days": 365 } }, { "label": "Operating profit (EBIT)", "format": "usd", "value": 648009738, "text": "$648.01 million", "exact": "$648,009,738", "compact": "$648.01M", "abs": "$648.01 million", "prior_value": 586853182, "prior": "$586.85 million", "priorabs": "$586.85 million", "yoy": "up 10.4%", "source": { "array": "quarterly", "field": "income_statement.operating_profit", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001628280-26-069195", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001628280-26-069195", "gap_days": 365 } }, { "label": "Cars shipped", "format": "plain", "value": 3368, "text": "3,368", "exact": "3,368", "compact": "3,368", "abs": "3,368", "prior_value": 3401, "prior": "3,401", "priorabs": "3,401", "yoy": "down 1.0%", "source": { "array": "quarterly", "field": "operating_data.shipments_units", "index": 0, "period_label": "Q3 2026", "period_end": "2026-09-30", "period_start": "2026-07-01", "span_days": 91, "source_accession": "0001628280-26-069195", "prior_index": 1, "prior_period_label": "Q3 2025", "prior_period_end": "2025-09-30", "prior_period_start": "2025-07-01", "prior_span_days": 91, "prior_source_accession": "0001628280-26-069195", "gap_days": 365 } } ], "summary": "Ferrari N.V. reported net revenues of $2.18 billion for Q3 FY2026, the quarter ended September 30, 2026, up 5.7% from a year earlier, and net profit attributable to its shareholders of $494.64 million, up 11.0%, or $2.81 per diluted share. Ferrari shipped 3,368 cars, down 1.0%, but F80 Supercar deliveries and more personalization raised the value of each car, lifting operating profit to $648.01 million, up 10.4%. Ferrari reports in euros; these figures are converted to US dollars, and the growth rates it reports in euros are higher.", "qa": [ { "q": "How much revenue did Ferrari make in Q3 FY2026?", "a": "Ferrari N.V. reported net revenues of $2.18 billion for Q3 FY2026, the quarter ended September 30, 2026. That is up 5.7% from $2.06 billion in the same quarter a year earlier, measured in US dollars; Ferrari reports in euros, and its euro growth rate was higher." }, { "q": "What was Ferrari's net profit and EPS in Q3 FY2026?", "a": "Ferrari N.V. earned net profit attributable to its shareholders of $494.64 million in Q3 FY2026, up 11.0% from $445.59 million a year earlier. Diluted earnings per share were $2.81, up 12.3% from $2.50." }, { "q": "How many cars did Ferrari ship in Q3 FY2026?", "a": "Ferrari N.V. shipped 3,368 cars in Q3 FY2026, down 1.0% from 3,401 a year earlier, as it changed over much of its model line-up. Revenue still rose because F80 Supercar deliveries and personalization raised the value of each car." }, { "q": "What was Ferrari's operating profit (EBIT) in Q3 FY2026?", "a": "Ferrari N.V. reported operating profit (EBIT) of $648.01 million for Q3 FY2026, up 10.4% from $586.85 million a year earlier, helped by a richer product mix and partly offset by currency, higher research and development and higher selling, general and administrative costs." } ] }, "company_details": { "Name": "Ferrari N.V.", "Ticker": "RACE", "CIK": "0001648416", "Exchange": "NYSE", "State": "Italy", "Incorporation": "Netherlands", "SIC": "3711", "Office": "Manufacturing", "Industry": "Motor Vehicles & Passenger Car Bodies" }, "next_filing": { "predicted_date": "2027-02-18", "predicted_type": "20-F" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-30", "form": "6-K", "accession": "0001628280-26-069195", "fiscal_year_end": "1231", "source": "derived" }, "source_filings": [ { "role": "annual", "current": false, "form": "20-F", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-12-31", "filed": "2026-02-19", "accession": "0001648416-26-000024", "url": "https://www.sec.gov/Archives/edgar/data/1648416/000164841626000024/race-20251231.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "6-K", "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-09-30", "filed": "2026-11-03", "accession": "0001628280-26-069195", "url": "https://www.sec.gov/Archives/edgar/data/1648416/000162828026069195/0001628280-26-069195-index.htm", "source": "derived" } ], "figure_sources": { "about": "Where each figure in this file is printed in its SEC filing. This block mirrors the paths of the figures: figure_sources.annual[0].income_statement.net_income is the source of annual[0].income_statement.net_income. Each entry reads '#', and the link is documents[] + '#': it opens the filing at the line that prints that number. A figure with no entry is not printed in a tagged filing, either because it was calculated (margins, free cash flow, trailing twelve months, a quarter derived by subtraction) or because it comes from an untagged earnings release. A figure this file converted to US dollars links to the number as the filing prints it, in the filing's own currency: that number at its period's conversion rate (and ADS ratio, for a per-share figure) is the figure.", "documents": { "d1": "https://www.sec.gov/Archives/edgar/data/1648416/000164841626000024/race-20251231.htm" }, "annual": [ { "period_end": "2025-12-31", "income_statement": { "net_revenues": "d1#f-68", "cost_of_sales": "d1#f-71", "selling_general_and_administrative_costs": "d1#f-74", "research_and_development_costs": "d1#f-77", "other_expenses_net": "d1#f-80", "result_from_investments": "d1#f-226", "operating_profit": "d1#f-86", "financial_income": "d1#f-89", "financial_expenses_income_net": "d1#f-2445", "profit_before_taxes": "d1#f-98", "income_tax_expense": "d1#f-217", "net_income": "d1#f-214", "net_income_attributable_to_owners_of_the_parent": "d1#f-107", "net_income_attributable_to_noncontrolling_interests": "d1#f-110", "basic_eps": "d1#f-113", "diluted_eps": 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