RACE FY 2019 Earnings Report — Ferrari N.V. Revenue & Financial Results | Market Cap Arena

Ferrari N.V.RACE

FY 2019 Earnings

Reported December 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$4.4B	—	—	—	—
Op. Income	$1.1B	—	—	—	—
Gross Margin	52.1%	—	—	—	—
Net Margin	18.5%	—	—	—	—
EPS (Diluted)	$4.34	—	—	—	—
Free Cash Flow	$1.1B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.3B
R&D Expenses	$818M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$401M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.1B
Interest Income	$7M
Interest Expense	$56M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$207M
Net Income from Continuing Ops	$817M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$814M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$814M
D&A	$411M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$4.4B
Cost of Revenue	$2.1B
GROSS PROFIT	$2.3B
R&D Expenses	$818M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$401M
Other Expenses	$0
Operating Expenses	$1.2B
Cost & Expenses	$3.3B
OPERATING INCOME	$1.1B
Interest Income	$7M
Interest Expense	$56M
Other Income/Expenses	-$51M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$207M
Net Income from Continuing Ops	$817M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$814M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$814M
D&A	$411M
EBIT	$1.1B
EBITDA	$1.5B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$814M
Depreciation & Amortization	$411M
Stock-Based Compensation	$20M
Deferred Income Tax	$0
Other Non-Cash Items	$275M
Change in Working Capital	$7M
OPERATING CASH FLOW	$1.5B
Capital Expenditure	-$412M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$408M
NET CASH FROM INVESTING	-$820M
Net Debt Issuance	$94M
Common Stock Repurchased	-$452M
Common Dividends Paid	-$225M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$586M
FREE CASH FLOW	$1.1B
Net Change in Cash	$122M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.2B
Short-Term Investments	$12M
Net Receivables	$689M
Inventory	$551M
Other Current Assets	$83M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$1.4B
Goodwill	$1.0B
Intangible Assets	$1.1B
Long-Term Investments	$1.0B
Tax Assets	$22M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$4.6B
TOTAL ASSETS	$7.1B
Account Payables	$934M
Short-Term Debt	$553M
Deferred Revenue	$0
Other Current Liabilities	$140M
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$2.1B
Deferred Revenue NC	$361M
Deferred Tax Liabilities	$108M
Other Non-Current Liabilities	$864M
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$5.2B
Common Stock	$3M
Additional Paid-In Capital	$7.6B
Retained Earnings	-$6.3B
Treasury Stock	$0
Accum. Other Comp. Income	$673M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$8M
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$2.7B
Net Debt	$1.6B