Ferrari validated its scarcity-driven model in 2025 by maintaining flat shipments while driving revenue and profitability higher. In the first nine months, EBITDA margins held in the high-30% range and operating margins approached 30%, levels more akin to top luxury houses than mass-market automakers. Growth was fueled by a richer product mix, elevated personalization penetration and disciplined pricing, demonstrating that Ferrari’s financial engine relies on value extraction per vehicle rather than unit volume.

Management reaffirmed medium-term targets of approximately €9 billion in revenue and EBITDA margins around 40% by 2030, while guiding for continued margin expansion and strong free cash flow without aggressive volume growth. The first fully electric model remains on track for 2026 launch, with the 2030 lineup expected to comprise roughly 40% internal-combustion, 40% hybrid and 20% fully electric vehicles. This measured approach underscores brand integrity—prioritizing emotion, sound and driving feel over arbitrary EV targets.

Trading near 38 times earnings, Ferrari’s valuation left minimal room for error throughout 2025. Every guidance update and quarterly result elicited strong stock reactions, reflecting investor demands for flawless execution. As a result, Ferrari faces scrutiny not only against automaker peers but against perfection, reinforcing the need for consistent delivery on both current ambitions and long-term strategy.

Ferrari has scheduled its 2026 financial disclosures as follows: full-year 2025 results on 10 February; Q1 2026 on 5 May; Q2 on 30 July; and Q3 on 3 November. A conference call and live webcast will accompany each release, with materials available on the company’s corporate website. The Annual General Meeting to approve 2025 financial statements is set for 15 April 2026 in Maranello.