RACE Q4 2019 Earnings Report — Ferrari N.V. Revenue & Financial Results | Market Cap Arena

Ferrari N.V.RACE

Q4 2019 Earnings

Reported December 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$1.1B	—	—	—	—
Op. Income	$257M	—	—	—	—
Gross Margin	52.8%	—	—	—	—
Net Margin	18.1%	—	—	—	—
EPS (Diluted)	$1.05	—	—	—	—
Free Cash Flow	$257M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$512M
GROSS PROFIT	$573M
R&D Expenses	$213M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$315M
Cost & Expenses	$827M
OPERATING INCOME	$257M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$245M
Income Tax Expense	$51M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$196M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$196M
D&A	$134M
EBIT	$244M
EBITDA	$377M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$512M
GROSS PROFIT	$573M
R&D Expenses	$213M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$103M
Other Expenses	$0
Operating Expenses	$315M
Cost & Expenses	$827M
OPERATING INCOME	$257M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$245M
Income Tax Expense	$51M
Net Income from Continuing Ops	$194M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$196M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$196M
D&A	$134M
EBIT	$244M
EBITDA	$377M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$196M
Depreciation & Amortization	$134M
Stock-Based Compensation	$5M
Deferred Income Tax	$0
Other Non-Cash Items	$178M
Change in Working Capital	-$95M
OPERATING CASH FLOW	$418M
Capital Expenditure	-$161M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$132M
NET CASH FROM INVESTING	-$293M
Net Debt Issuance	$6M
Common Stock Repurchased	-$98M
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	-$92M
FREE CASH FLOW	$257M
Net Change in Cash	$31M

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