In 2025, Ferrari demonstrated that its scarcity-driven model remains intact. Total shipments held steady compared with the prior year, yet full-year revenues rose by approximately 5% as the company leaned into a richer product mix and expanded personalization options. In the first nine months, EBITDA margins averaged in the high-30% range and operating margins approached 30%, positioning Ferrari alongside leading luxury houses rather than mass-market automakers. This performance underscores that value extraction per vehicle, not volume growth, is the engine of Ferrari’s financial success.

Throughout the year, Ferrari’s leadership reinforced medium-term ambitions while adopting a measured tone on growth. The company reiterated guidance for modest annual revenue increases and margin expansion, without deviating from its disciplined unit forecasts. Looking toward 2030, Ferrari continues to target approximately €9 billion in revenue and an EBITDA margin near 40%. By prioritizing credibility over aggressive volume commitments, management strengthened investor confidence in its ability to execute consistently.

Ferrari confirmed that its first fully electric model will debut in 2026 and outlined a 2030 powertrain mix of roughly 40% internal combustion, 40% hybrid, and 20% full electric. This pacing reflects a deliberate choice to safeguard driving character, sound profile, and brand allure rather than competing in a pure technology race. By making electrification a question of emotional authenticity rather than speed to market, Ferrari preserved its core appeal and set clear expectations for long-term capital allocation.

Trading at multiples that assume near-perfection, Ferrari’s valuation became a central discussion point during 2025. With shares priced at around 38 times earnings, even small deviations from guidance provoked significant investor reactions. As a result, Ferrari now competes against an ideal of flawless performance rather than its automotive peers. For shareholders, sustaining this premium requires management to maintain disciplined execution across product launches, margin targets, and cash-flow generation.