RACE FY 2024 Earnings Report — Ferrari N.V. Revenue & Financial Results | Market Cap Arena

Ferrari N.V.RACE

FY 2024 Earnings

Reported December 31, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$7.8B	—	$7.0B	—	11.8%
Op. Income	$2.2B	—	$1.9B	—	16.1%
Gross Margin	50.1%	—	49.8%	—	0.3pp
Net Margin	22.8%	—	21.0%	—	1.8pp
EPS (Diluted)	$9.89	—	$8.07	—	22.6%
Free Cash Flow	$1.1B	—	$991M	—	10.6%

Revenue Flow

Item	Amount
REVENUE	$7.8B
Cost of Revenue	$3.9B
GROSS PROFIT	$3.9B
R&D Expenses	$1.0B
Selling & Marketing	$337M
General & Administrative	$319M
SG&A Expenses	$656M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$5.6B
OPERATING INCOME	$2.2B
Interest Income	$37M
Interest Expense	$55M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$424M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$780M
EBIT	$2.3B
EBITDA	$3.0B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$7.8B
Cost of Revenue	$3.9B
GROSS PROFIT	$3.9B
R&D Expenses	$1.0B
Selling & Marketing	$337M
General & Administrative	$319M
SG&A Expenses	$656M
Other Expenses	$0
Operating Expenses	$1.7B
Cost & Expenses	$5.6B
OPERATING INCOME	$2.2B
Interest Income	$37M
Interest Expense	$55M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$424M
Net Income from Continuing Ops	$1.8B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.8B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$780M
EBIT	$2.3B
EBITDA	$3.0B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$1.8B
Depreciation & Amortization	$780M
Stock-Based Compensation	$0
Deferred Income Tax	$424M
Other Non-Cash Items	-$288M
Change in Working Capital	-$447M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$593M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$820M
Common Stock Repurchased	-$679M
Common Dividends Paid	-$514M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$380M
FREE CASH FLOW	$1.1B
Net Change in Cash	$725M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$7M
Net Receivables	$2.4B
Inventory	$1.3B
Other Current Assets	$42M
TOTAL CURRENT ASSETS	$5.9B
PP&E (Net)	$2.1B
Goodwill	$918M
Intangible Assets	$1.8B
Long-Term Investments	$94M
Tax Assets	$277M
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$5.2B
TOTAL ASSETS	$11.1B
Account Payables	$1.1B
Short-Term Debt	$0
Deferred Revenue	$392M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.7B
Long-Term Debt	$3.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$129M
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$5.2B
TOTAL LIABILITIES	$7.0B
Common Stock	$3M
Additional Paid-In Capital	$0
Retained Earnings	$4.1B
Treasury Stock	$0
Accum. Other Comp. Income	$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.1B
Minority Interest	$11M
TOTAL EQUITY	$4.1B
TOTAL LIABILITIES & EQUITY	$11.1B
Total Debt	$3.9B
Net Debt	$1.9B