Filing Flows › Ferrari N.V. (RACE) › FY2025
Ferrari N.V. (RACE) FY2025 earnings results (fiscal 2025)
20-F filed Feb 19, 2026
Ferrari N.V. (RACE) reported revenue of $7.1B for the fiscal 2025 (FY2025), +7% from a year earlier. Operating margin was 29.5%, net earnings $1.6B (22.4% of revenue).
Ferrari N.V., FY2025: revenue $7.1B (+7% year over year), operating margin 29.5%, net earnings $1.6B, operating cash flow $2.3B. The chart follows the revenue to costs, profit and cash.
| FY2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.1B | — | +7% |
| Operating profit | $2.1B | — | +12% |
| Net earnings | $1.6B | — | +5% |
| Operating cash flow | $2.3B | — | +22% |
| Free cash flow | $1.9B | — | +29% |
What changed
Revenue was €7.1B in FY2025, up 7% year over year.
Operating profit was €2.1B, a 29.5% margin (up 1.3 points year over year). Of the extra revenue versus FY2024, 47% reached operating profit, above the 28% margin then. Total costs grew 5% against revenue growth of 7%. The fastest-growing cost line was SG&A (+14%). Net earnings were €1.6B, up 5% year over year. The effective tax rate was 22.5%.
Operating cash flow was €2.3B (up 22% year over year), 147% of net earnings. Non-cash charges added back €0.66B of depreciation and amortization. Capital expenditures of €0.49B left free cash flow of €1.9B.
Questions
What was Ferrari N.V.'s revenue in the fiscal 2025?
Ferrari N.V.
Was Ferrari N.V. profitable in the fiscal 2025?
Operating profit was $2.1B (29.5% of revenue) and net earnings $1.6B.
Source: Ferrari N.V. 20-F on SEC EDGAR.