FERRARI NV (RACE) Stock Fundamental Analysis
USA - NYSE:RACE - NL0011585146 - Common Stock
396 USD
+4.56 (+1.16%)
396 USD
0 (0%)
Overall RACE gets a fundamental rating of 7 out of 10. We evaluated RACE against 36 industry peers in the Automobiles industry. RACE scores excellent points on both the profitability and health parts. This is a solid base for a good stock. RACE is not valued too expensively and it also shows a decent growth rate. This makes RACE very considerable for quality investing!
1. Profitability
1.1 Basic Checks
RACE had positive earnings in the past year.
RACE had a positive operating cash flow in the past year.
RACE had positive earnings in each of the past 5 years.
In the past 5 years RACE always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of RACE (16.52%) is better than 100.00% of its industry peers.
Looking at the Return On Equity, with a value of 45.01%, RACE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
The Return On Invested Capital of RACE (22.10%) is better than 100.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for RACE is significantly above the industry average of 5.46%.
The last Return On Invested Capital (22.10%) for RACE is above the 3 year average (19.26%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 16.52% | ||
| ROE | 45.01% | ||
| ROIC | 22.1% |
ROA(3y)14.53%
ROA(5y)13.08%
ROE(3y)39.98%
ROE(5y)38.33%
ROIC(3y)19.26%
ROIC(5y)17.08%
1.3 Margins
Looking at the Profit Margin, with a value of 22.91%, RACE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Profit Margin of RACE has grown nicely.
Looking at the Operating Margin, with a value of 29.02%, RACE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Operating Margin of RACE has grown nicely.
With an excellent Gross Margin value of 51.20%, RACE belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
RACE's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.02% | ||
| PM (TTM) | 22.91% | ||
| GM | 51.2% |
OM growth 3Y4.01%
OM growth 5Y3.02%
PM growth 3Y5.43%
PM growth 5Y4.29%
GM growth 3Y-0.75%
GM growth 5Y-0.76%
2. Health
2.1 Basic Checks
RACE has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for RACE has been reduced compared to 1 year ago.
RACE has less shares outstanding than it did 5 years ago.
The debt/assets ratio for RACE is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 8.63 indicates that RACE is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 8.63, RACE belongs to the best of the industry, outperforming 94.44% of the companies in the same industry.
RACE has a debt to FCF ratio of 2.32. This is a good value and a sign of high solvency as RACE would need 2.32 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.32, RACE belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
RACE has a Debt/Equity ratio of 0.89. This is a neutral value indicating RACE is somewhat dependend on debt financing.
RACE has a Debt to Equity ratio (0.89) which is comparable to the rest of the industry.
Although RACE does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.89 | ||
| Debt/FCF | 2.32 | ||
| Altman-Z | 8.63 |
ROIC/WACC2.78
WACC7.95%
2.3 Liquidity
RACE has a Current Ratio of 2.08. This indicates that RACE is financially healthy and has no problem in meeting its short term obligations.
RACE's Current ratio of 2.08 is amongst the best of the industry. RACE outperforms 83.33% of its industry peers.
A Quick Ratio of 1.61 indicates that RACE should not have too much problems paying its short term obligations.
The Quick ratio of RACE (1.61) is better than 86.11% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.08 | ||
| Quick Ratio | 1.61 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 16.02% over the past year.
RACE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.92% yearly.
RACE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.34%.
Measured over the past years, RACE shows a quite strong growth in Revenue. The Revenue has been growing by 12.13% on average per year.
EPS 1Y (TTM)16.02%
EPS 3Y23.51%
EPS 5Y17.92%
EPS Q2Q%4.37%
Revenue 1Y (TTM)9.34%
Revenue growth 3Y16.06%
Revenue growth 5Y12.13%
Sales Q2Q%4.38%
3.2 Future
The Earnings Per Share is expected to grow by 10.24% on average over the next years. This is quite good.
RACE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.99% yearly.
EPS Next Y6.93%
EPS Next 2Y12.44%
EPS Next 3Y11.69%
EPS Next 5Y10.24%
Revenue Next Year7.33%
Revenue Next 2Y9.78%
Revenue Next 3Y9.04%
Revenue Next 5Y6.99%
3.3 Evolution
Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 38.19, which means the current valuation is very expensive for RACE.
Based on the Price/Earnings ratio, RACE is valued a bit cheaper than the industry average as 77.78% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.76, RACE is valued a bit more expensive.
The Price/Forward Earnings ratio is 31.82, which means the current valuation is very expensive for RACE.
Compared to the rest of the industry, the Price/Forward Earnings ratio of RACE indicates a somewhat cheap valuation: RACE is cheaper than 69.44% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.63. RACE is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.19 | ||
| Fwd PE | 31.82 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, RACE is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
77.78% of the companies in the same industry are more expensive than RACE, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 48.56 | ||
| EV/EBITDA | 25.02 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates RACE does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of RACE may justify a higher PE ratio.
PEG (NY)5.51
PEG (5Y)2.13
EPS Next 2Y12.44%
EPS Next 3Y11.69%
5. Dividend
5.1 Amount
With a yearly dividend of 0.85%, RACE is not a good candidate for dividend investing.
RACE's Dividend Yield is rather good when compared to the industry average which is at 3.20. RACE pays more dividend than 80.56% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.31, RACE's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.85% |
5.2 History
The dividend of RACE is nicely growing with an annual growth rate of 18.29%!
RACE has been paying a dividend for at least 10 years, so it has a reliable track record.
RACE has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)18.29%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
RACE pays out 32.88% of its income as dividend. This is a sustainable payout ratio.
RACE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.88%
EPS Next 2Y12.44%
EPS Next 3Y11.69%
396
+4.56 (+1.16%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)
Earnings (Next)
Inst Owners41.88%
Inst Owner Change0.18%
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap76.79B
Revenue(TTM)6.96B
Net Income(TTM)1.59B
Analysts76.52
Price Target549.94 (38.87%)
Short Float %2.85%
Short Ratio5.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.85% |
Yearly Dividend2.1
Dividend Growth(5Y)18.29%
DP32.88%
Div Incr Years4
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.75%
Min EPS beat(2)-1.9%
Max EPS beat(2)-1.61%
EPS beat(4)2
Avg EPS beat(4)2.94%
Min EPS beat(4)-1.9%
Max EPS beat(4)11.77%
EPS beat(8)6
Avg EPS beat(8)4.89%
EPS beat(12)9
Avg EPS beat(12)4.24%
EPS beat(16)13
Avg EPS beat(16)4.56%
Revenue beat(2)0
Avg Revenue beat(2)-2.67%
Min Revenue beat(2)-4.23%
Max Revenue beat(2)-1.1%
Revenue beat(4)1
Avg Revenue beat(4)-0.98%
Min Revenue beat(4)-4.23%
Max Revenue beat(4)2.78%
Revenue beat(8)3
Avg Revenue beat(8)0.1%
Revenue beat(12)6
Avg Revenue beat(12)1.03%
Revenue beat(16)7
Avg Revenue beat(16)0.53%
PT rev (1m)-0.93%
PT rev (3m)1.81%
EPS NQ rev (1m)-1.7%
EPS NQ rev (3m)-3.8%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.14%
Revenue NQ rev (1m)-1.15%
Revenue NQ rev (3m)-2.21%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.32%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 38.19 | ||
| Fwd PE | 31.82 | ||
| P/S | 9.48 | ||
| P/FCF | 48.56 | ||
| P/OCF | 28.11 | ||
| P/B | 18.63 | ||
| P/tB | 57.74 | ||
| EV/EBITDA | 25.02 |
EPS(TTM)10.37
EY2.62%
EPS(NY)12.45
Fwd EY3.14%
FCF(TTM)8.16
FCFY2.06%
OCF(TTM)14.09
OCFY3.56%
SpS41.75
BVpS21.25
TBVpS6.86
PEG (NY)5.51
PEG (5Y)2.13
Graham Number70.42
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 16.52% | ||
| ROE | 45.01% | ||
| ROCE | 27.75% | ||
| ROIC | 22.1% | ||
| ROICexc | 27.97% | ||
| ROICexgc | 47.99% | ||
| OM | 29.02% | ||
| PM (TTM) | 22.91% | ||
| GM | 51.2% | ||
| FCFM | 19.53% |
ROA(3y)14.53%
ROA(5y)13.08%
ROE(3y)39.98%
ROE(5y)38.33%
ROIC(3y)19.26%
ROIC(5y)17.08%
ROICexc(3y)24.63%
ROICexc(5y)22.3%
ROICexgc(3y)43.96%
ROICexgc(5y)41.2%
ROCE(3y)24.18%
ROCE(5y)21.45%
ROICexgc growth 3Y1.86%
ROICexgc growth 5Y-2.51%
ROICexc growth 3Y6.8%
ROICexc growth 5Y2.03%
OM growth 3Y4.01%
OM growth 5Y3.02%
PM growth 3Y5.43%
PM growth 5Y4.29%
GM growth 3Y-0.75%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.72
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.89 | ||
| Debt/FCF | 2.32 | ||
| Debt/EBITDA | 1.18 | ||
| Cap/Depr | 151.4% | ||
| Cap/Sales | 14.21% | ||
| Interest Coverage | 25.44 | ||
| Cash Conversion | 87.87% | ||
| Profit Quality | 85.25% | ||
| Current Ratio | 2.08 | ||
| Quick Ratio | 1.61 | ||
| Altman-Z | 8.63 |
F-Score8
WACC7.95%
ROIC/WACC2.78
Cap/Depr(3y)142.28%
Cap/Depr(5y)150.94%
Cap/Sales(3y)15.05%
Cap/Sales(5y)16.58%
Profit Quality(3y)64.5%
Profit Quality(5y)56.09%
High Growth Momentum
Growth
EPS 1Y (TTM)16.02%
EPS 3Y23.51%
EPS 5Y17.92%
EPS Q2Q%4.37%
EPS Next Y6.93%
EPS Next 2Y12.44%
EPS Next 3Y11.69%
EPS Next 5Y10.24%
Revenue 1Y (TTM)9.34%
Revenue growth 3Y16.06%
Revenue growth 5Y12.13%
Sales Q2Q%4.38%
Revenue Next Year7.33%
Revenue Next 2Y9.78%
Revenue Next 3Y9.04%
Revenue Next 5Y6.99%
EBIT growth 1Y15.89%
EBIT growth 3Y20.71%
EBIT growth 5Y15.51%
EBIT Next Year46.53%
EBIT Next 3Y22.29%
EBIT Next 5Y15.47%
FCF growth 1Y103.88%
FCF growth 3Y19.78%
FCF growth 5Y9.32%
OCF growth 1Y54.15%
OCF growth 3Y14.52%
OCF growth 5Y8.09%
FERRARI NV / RACE FAQ
Can you provide the ChartMill fundamental rating for FERRARI NV?
ChartMill assigns a fundamental rating of 7 / 10 to RACE.
What is the valuation status of FERRARI NV (RACE) stock?
ChartMill assigns a valuation rating of 4 / 10 to FERRARI NV (RACE). This can be considered as Fairly Valued.
Can you provide the profitability details for FERRARI NV?
FERRARI NV (RACE) has a profitability rating of 9 / 10.
What are the PE and PB ratios of FERRARI NV (RACE) stock?
The Price/Earnings (PE) ratio for FERRARI NV (RACE) is 38.19 and the Price/Book (PB) ratio is 18.63.
How sustainable is the dividend of FERRARI NV (RACE) stock?
The dividend rating of FERRARI NV (RACE) is 5 / 10 and the dividend payout ratio is 32.88%.