Ferrari stock holds near record territory as margins and pricing power support valuation

Ferrari stock, tied to Ferrari N.V. (ISIN NL0011585146), continues to trade near record territory on the New York Stock Exchange as the Italian luxury sports car maker couples double-digit revenue growth with high margins and tight supply, according to recent market data as of 22 July 2026. The valuation reflects investors focus on the companys ability to sustain premium pricing and disciplined volume growth highlighted in the latest reported full-year and quarterly figures.

Revenue up double digits in 2023

According to the 2023 annual results published by Ferrari on its investor relations site, the company generated revenue of approximately EUR 6.0 billion in 2023, an increase of around 14% compared with 2022. This double-digit top-line expansion was driven by higher shipments, a richer model mix, and increased personalization content across its product range, underlining how the brand continues to convert demand for exclusive models into higher average selling prices.

In the same 2023 release, Ferrari reported adjusted EBITDA of about EUR 2.3 billion, up roughly 20% from the prior year, outpacing revenue growth and indicating operating leverage in the business. The company noted that the adjusted EBITDA margin expanded to roughly 38% in 2023 from about 36% in 2022, reflecting a favorable combination of pricing, mix, and cost discipline that helps justify the premium multiple at which Ferrari stock trades versus mass-market automakers.

Net profit also advanced at a healthy rate: Ferrari recorded net income of around EUR 1.26 billion in 2023, an increase of approximately 34% compared with 2022. The improvement in the bottom line was supported not only by strong operating performance but also by disciplined financial management, with the company maintaining a robust balance sheet that gives it flexibility for shareholder returns and investment in new model development.

Q1 2024 results show continued momentum

The positive trend carried into 2024. In its financial update for the first quarter of 2024, Ferrari reported revenue of approximately EUR 1.58 billion, up about 11% year on year compared with the first quarter of 2023. This growth came despite Ferrari carefully managing volumes, underscoring how pricing power and a favorable product mix continue to support the top line even as the company prioritizes exclusivity.

Ferrari also reported adjusted EBITDA for the first quarter of 2024 of roughly EUR 572 million, representing an increase of about 15% compared with the same quarter a year earlier. The adjusted EBITDA margin in Q1 2024 was approximately 36% versus around 35% in Q1 2023, signaling that the company is sustaining high profitability even as it ramps investment in electrification, hybrid technologies, and new facilities.

Net profit in the first quarter of 2024 reached about EUR 352 million, up close to 16% compared with the prior-year period, according to the same financial communication. For investors, the fact that net income growth continues to outpace revenue growth over various reporting periods reinforces the view that Ferrari is not simply a cyclical automaker but more akin to a luxury goods company with strong brand equity and recurring demand from high-net-worth clients.

Guidance points to further earnings growth

In its guidance accompanying the 2023 results, Ferrari indicated that it expected revenue in 2024 to grow further from the EUR 6.0 billion level achieved in 2023, supported by the full-year contribution of newer models and continued strong demand across regions. While the company framed its guidance in ranges, the midpoint implied a mid to high single-digit percentage increase in revenue for 2024, underscoring managements confidence in the order book.

The same guidance communication suggested that adjusted EBITDA in 2024 was projected to increase to a range centered around approximately EUR 2.45 billion, compared with the roughly EUR 2.3 billion achieved in 2023. That would equate to growth of around 6% in adjusted EBITDA year on year at the midpoint and would keep the EBITDA margin in the mid to high thirties in percentage terms, reinforcing Ferraris positioning as one of the most profitable names in the global automotive universe.

Ferraris capital allocation framework supports this earnings outlook. The company announced a share repurchase program and maintained a progressive dividend policy, with the 2023 dividend increased compared with 2022. The dividend for the 2023 financial year, paid in 2024, amounted to roughly EUR 2.44 per share, up from about EUR 2.27 per share the year before, reflecting the substantial growth in net income and free cash flow generation.

Core models drive pricing power

Ferraris product portfolio is central to its financial performance and the valuation of Ferrari stock. The current range spans several nameplates, including the Ferrari 296 and the Purosangue, which have helped broaden the customer base while preserving exclusivity. According to company disclosures for 2023, total shipments were in the region of 13,600 vehicles, an increase of around 3% versus 2022, yet revenue grew much faster than volumes thanks to higher average selling prices and customization.

The mix shift toward hybrid models has also supported pricing. In 2023, hybrid vehicles accounted for roughly 44% of total shipments, up from about 22% in 2022, as Ferrari expanded the range of electrified models. This transition not only aligns the company with tightening emissions regulations but also allows it to command higher sticker prices and sustain margins even as regulatory costs rise.

The company has stated in public communications that its order book remains strong and in some cases stretches well into the next year for certain models, a factor that supports visibility on future revenue and earnings. For investors, the combination of a constrained supply, high brand desirability, and a disciplined allocation of production slots is a key reason why Ferrari can maintain a pricing strategy more typical of luxury goods groups than of volume car manufacturers.

Ferrari stock trading near 52-week high

On the market side, Ferrari stock trades on the New York Stock Exchange under the ticker RACE and has in recent weeks hovered close to its 52-week high. As of the close on 22 July 2026, Ferrari stock changed hands at around $430 per share on the NYSE, compared with a 52-week low near $300, according to recent market data. This places the shares roughly 43% above their 52-week low, showing how investors have rewarded the companys execution and growth.

Based on the same price reference, Ferraris market capitalization stands at approximately $80 billion as of 22 July 2026, placing it among the most valuable automotive and luxury names globally. That valuation implies a forward price-to-earnings multiple well above that of mass-market carmakers, but investors appear comfortable paying a premium for Ferraris brand, margins, and visibility into future demand.

From a technical perspective, the share price has been trading in a rising channel over the past year, with brief periods of consolidation followed by renewed advances as the company released stronger-than-expected earnings or updated its guidance. For some market participants, the proximity to the 52-week high and the sustained uptrend serve as confirmation that the positive fundamentals are being reflected in the price, while others may watch for periods of volatility around major events such as earnings releases or product announcements.

Iconic models underpin the brand

Ferraris brand and financial profile are closely linked to its headline models. The Ferrari Purosangue, the brands four-door, four-seater model, has extended the lineup into a new segment while adhering to the companys performance and design standards. In 2023 and into 2024, demand for the Purosangue has been strong enough that Ferrari temporarily suspended new orders to avoid excessively long waiting lists, according to company commentary, a move that underlines the brands discipline on supply.

Alongside the Purosangue, the mid-engine hybrid 296 series has played a key role in Ferraris hybrid transition. The company has highlighted that hybrid models like the 296 GTB and 296 GTS have resonated with customers seeking cutting-edge performance paired with lower emissions, reinforcing Ferraris technological credentials and helping to secure strong order intake in key markets such as Europe, the United States, and Asia.

Ferrari stock supported by strong fundamentals

Ferrari stock, at around $430 on 22 July 2026, reflects the interplay of high margins, consistent revenue growth, and a carefully curated product portfolio. The shares trade near their 52-week high and well above the 52-week low around $300, with a market capitalization close to $80 billion, placing the company firmly in the large-cap bracket on the NYSE. For investors monitoring luxury and automotive names, the central question is how long Ferrari can sustain double-digit revenue growth and margin expansion while gradually rolling out hybrid and future fully electric models.