Ferrari Raises 2026 Outlook to €7.5B Revenue, Extends Order Book to 2027
Ferrari reported 2025 revenue up 7% to €7.1 billion and EBITDA up 38.8% to €2.8 billion, with free cash flow exceeding €1.5 billion. The automaker’s order book extends into late 2027 on demand for new models, and it forecasts 2026 revenue of €7.5 billion with €2.93 billion in adjusted EBITDA.
1. Full-Year 2025 Financial Performance
Ferrari delivered full-year revenue of €7.1 billion, a 7% increase, while EBITDA rose 38.8% to €2.8 billion. Industrial free cash flow exceeded €1.5 billion, reflecting over 55% cash conversion driven by price improvements and a richer product mix.
2. New Model Launches and Order Book
In 2025 Ferrari launched six models, including its first electric vehicle, enhancing appeal across segments. Strong demand for the Amalfi and 849 Testarossa has built an order backlog extending into late 2027.
3. 2026 Guidance and Analyst Outlook
Ferrari projects 2026 revenue of approximately €7.5 billion and adjusted EBITDA of €2.93 billion, with free cash flow to remain above €1.5 billion. Analysts have raised their price target to €460 from €450 and maintain a Buy rating, anticipating continued outperformance.