The company maintains a healthy financial position with a 2.41 current ratio and a manageable 0.72 debt-to-equity ratio as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 5.37B | 4.82B | 5.02B | 3.99B | 3.95B | 3.36B | 2.82B | 2.19B | 2.48B | 2.08B | 1.89B | 2.02B | 2.84B | 2.22B |
| Cash & Short-Term Investments | 1.9B | 1.47B | 1.75B | 1.13B | 1.4B | 1.35B | 1.71B | 1.02B | 797.05M | 651.7M | 463.67M | 191.38M | 134.28M | 113.79M |
| Cash Only | 1.86B | 1.47B | 1.74B | 1.12B | 1.39B | 1.34B | 1.67B | 1.01B | 793.66M | 647.71M | 457.78M | 182.75M | 134.28M | 113.79M |
| Short-Term Investments | 34.8M | 4.42M | 5.66M | 5.57M | 7.07M | 1.94M | 47.27M | 10.58M | 3.39M | 4M | 5.89M | 8.63M | 0 | 0 |
| Accounts Receivable | 2.1B | 2.01B | 2.08B | 1.79B | 1.73B | 1.4B | 417.72M | 588.91M | 217.86M | 242.91M | 252.38M | 173.83M | 1.45B | 1.1B |
| Days Sales Outstanding | 101.33 | 102.44 | 113.9 | 109.42 | 123.81 | 120.04 | 44.07 | 57.07 | 23.25 | 25.95 | 29.67 | 22.23 | 191.34 | 171.89 |
| Inventory | 1.16B | 1.11B | 1.09B | 948.51M | 674.66M | 540.58M | 563.59M | 471.51M | 391.06M | 393.76M | 324M | 295.44M | 296M | 237.5M |
| Days Inventory Outstanding | 117.18 | 117.75 | 119.3 | 115.56 | 92.96 | 94.83 | 121.99 | 95.33 | 87.95 | 87.06 | 74.86 | 71.95 | 71.75 | 70.21 |
| Other Current Assets | 204.91M | 232.89M | 36.29M | 66.42M | 110.65M | 36.43M | 78.9M | 71.26M | 14.86M | 11.69M | 10.39M | 5.07M | 8.75M | 74.76M |
| Total Non-Current Assets | 4.91B | 4.8B | 4.48B | 4.07B | 3.81B | 3.5B | 4.84B | 3.92B | 2.37B | 2.06B | 1.96B | 1.86B | 1.8B | 1.68B |
| Property, Plant & Equipment | 2.13B | 2.06B | 1.83B | 1.58B | 1.46B | 1.35B | 1.5B | 1.2B | 850.55M | 710.26M | 669.28M | 626.13M | 585.18M | 567.81M |
| Fixed Asset Turnover | 3.53x | 3.47x | 3.65x | 3.79x | 3.50x | 3.16x | 2.31x | 3.14x | 4.02x | 4.81x | 4.64x | 4.56x | 4.72x | 4.11x |
| Goodwill | 788.16M | 785.18M | 785.18M | 785.18M | 785.18M | 785.18M | 960.71M | 881.37M | 785.18M | 785.18M | 785.18M | 787.18M | 787.18M | 787.18M |
| Intangible Assets | 1.67B | 1.64B | 1.55B | 1.42B | 1.31B | 1.14B | 1.2B | 940.58M | 645.8M | 440.46M | 354.39M | 307.81M | 265.26M | 242.17M |
| Long-Term Investments | 377.27M | 96.44M | 80.82M | 67.67M | 59.53M | 54.51M | 1.06B | 877.52M | 32.13M | 30.04M | 21.97M | 978K | 1.32M | 1.27M |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.97M | 10.86M | 46.11M | 36.64M |
| Total Assets | 10.28B | 9.63B | 9.5B | 8.05B | 7.77B | 6.86B | 7.66B | 6.11B | 4.85B | 4.14B | 3.85B | 3.88B | 4.64B | 3.9B |
| Asset Turnover | 0.74x | 0.74x | 0.70x | 0.74x | 0.66x | 0.62x | 0.45x | 0.62x | 0.70x | 0.83x | 0.81x | 0.74x | 0.60x | 0.60x |
| Asset Growth % | 19.11% | 1.38% | 17.96% | 3.68% | 13.15% | -10.42% | 25.33% | 26.01% | 17.16% | 7.57% | -0.67% | -16.5% | 19.15% | - |
| Total Current Liabilities | 2.23B | 2.39B | 1.49B | 1.49B | 1.41B | 1.33B | 2.15B | 1.43B | 742.79M | 713.69M | 717.89M | 1.63B | 1.22B | 917.67M |
| Accounts Payable | 946.93M | 841.26M | 945.66M | 930.56M | 902.97M | 797.83M | 873.38M | 798.7M | 653.75M | 607.5M | 614.89M | 507.5M | 535.71M | 485.95M |
| Days Payables Outstanding | 93.82 | 88.93 | 103.67 | 113.37 | 124.42 | 139.96 | 189.04 | 161.48 | 147.03 | 134.32 | 142.07 | 123.59 | 129.85 | 143.66 |
| Short-Term Debt | 1.01B | 930.96M | 0 | 0 | 0 | 0 | 1.09B | 472.93M | 0 | 0 | 399.88M | 919.41M | 491.32M | 296.79M |
| Deferred Revenue (Current) | 1.54B | 424.59M | 335.52M | 295.68M | 270.35M | 256.21M | 0 | 0 | -352.41M | -306.03M | -399.88M | 125.23M | 109.52M | 103.91M |
| Other Current Liabilities | 132.89M | 0 | 0 | 0 | 0 | 0 | 102.84M | 119.32M | 327.32M | 130.51M | -28.39M | 178.98M | 257.14M | 102.3M |
| Current Ratio | 2.41x | 2.02x | 3.37x | 2.68x | 2.80x | 2.54x | 1.32x | 1.53x | 3.34x | 2.92x | 2.63x | 1.24x | 2.33x | 2.42x |
| Quick Ratio | 1.89x | 1.55x | 2.64x | 2.04x | 2.32x | 2.13x | 1.05x | 1.20x | 2.81x | 2.36x | 2.18x | 1.06x | 2.09x | 2.16x |
| Cash Conversion Cycle | 124.69 | 131.26 | 129.53 | 111.6 | 92.35 | 74.91 | -22.98 | -9.09 | -35.83 | -21.31 | -37.54 | -29.41 | 133.24 | 98.44 |
| Total Non-Current Liabilities | 3.98B | 3.32B | 4.46B | 3.49B | 3.75B | 3.33B | 3.33B | 3.01B | 2.76B | 2.64B | 2.8B | 2.27B | 940.95M | 661.52M |
| Long-Term Debt | 1.8B | 1.79B | 3.23B | 2.4B | 2.75B | 2.57B | 2.19B | 1.83B | 1.57B | 1.5B | 1.45B | 1.34B | 18.9M | 20.52M |
| Capital Lease Obligations | 533.85M | 130.8M | 126.27M | 73.05M | 57.42M | 56.21M | 56.18M | 45.24M | 673K | 124.66M | -125.66M | -1.16B | -14.57M | -64.34M |
| Deferred Tax Liabilities | 972.35M | 254.39M | 110.02M | 136.85M | 126.51M | 95.97M | 117.68M | 92.28M | 39.14M | 10.98M | 13.11M | 23.34M | 21.61M | 27.96M |
| Other Non-Current Liabilities | 1.13B | 1.15B | 1B | 584.42M | 541.99M | 343.79M | 632.48M | 739.15M | 327.26M | 492M | 608.09M | 388.52M | 356.15M | 223.1M |
| Total Liabilities | 6.21B | 5.71B | 5.95B | 4.98B | 5.16B | 4.65B | 5.47B | 4.44B | 3.5B | 3.36B | 3.52B | 3.89B | 2.16B | 1.58B |
| Total Debt | 2.94B | 2.88B | 3.35B | 2.48B | 2.81B | 2.63B | 3.33B | 2.35B | 1.93B | 1.81B | 1.85B | 2.26B | 510.22M | 317.3M |
| Net Debt | 1.08B | 1.42B | 1.61B | 1.36B | 1.42B | 1.29B | 1.67B | 1.34B | 1.13B | 1.16B | 1.39B | 2.08B | 375.94M | 203.52M |
| Debt / Equity | 0.72x | 0.74x | 0.95x | 0.81x | 1.08x | 1.19x | 1.52x | 1.41x | 1.42x | 2.30x | 5.60x | - | 0.21x | 0.14x |
| Debt / EBITDA | 1.08x | 1.05x | 1.31x | 1.08x | 1.57x | 1.72x | 2.88x | 1.85x | 1.73x | 1.93x | 2.50x | 3.03x | 0.74x | 0.51x |
| Net Debt / EBITDA | 0.40x | 0.51x | 0.63x | 0.59x | 0.80x | 0.84x | 1.44x | 1.05x | 1.02x | 1.24x | 1.88x | 2.78x | 0.55x | 0.33x |
| Interest Coverage | 54.79x | 51.13x | 41.18x | 45.19x | 22.62x | 27.96x | 14.19x | 19.21x | 32.16x | 21.83x | 19.62x | 27.03x | - | - |
| Total Equity | 4.07B | 3.91B | 3.54B | 3.07B | 2.6B | 2.21B | 2.19B | 1.67B | 1.35B | 783.94M | 329.81M | -19.4M | 2.48B | 2.32B |
| Equity Growth % | 51.52% | 10.48% | 15.39% | 17.99% | 17.68% | 1.02% | 31.13% | 23.31% | 72.7% | 137.7% | 1799.76% | -100.78% | 7% | - |
| Book Value per Share | 22.95 | 21.95 | 19.69 | 16.92 | 14.22 | 11.97 | 11.81 | 8.90 | 7.15 | 4.13 | 1.75 | -0.10 | 13.12 | 12.26 |
| Total Shareholders' Equity | 4.06B | 3.91B | 3.53B | 3.06B | 2.59B | 2.21B | 2.18B | 1.66B | 1.35B | 778.68M | 325M | -25.12M | 2.47B | 2.29B |
| Common Stock | 2.58M | 2.57M | 2.57M | 2.57M | 2.57M | 2.57M | 3.15M | 2.89M | 2.5M | 2.5M | 2.5M | 3.78M | 3.78M | 3.78M |
| Retained Earnings | 4.03B | -5.06B | 3.52B | 2.99B | 2.5B | 2.19B | -5.68B | -5.39B | 1.32B | 746.34M | 302.34M | -12.13M | 2.5B | 2.24B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 28.39M | 3.19B | 13.12M | 64.89M | 90.51M | 10.87M | 807.4M | 575.79M | 26.74M | 29.83M | 20.16M | -16.77M | -37.77M | 43.41M |
| Minority Interest | 5.81M | 7.85M | 9.29M | 9.73M | 9.63M | 5.52M | 4.92M | 6.73M | 5.12M | 5.26M | 4.81M | 5.72M | 8.7M | 26.78M |
Electrification transition capital intensity
As reported in recent financial statements, Ferrari's total assets have grown from $8.1B in 2023Q4 to $10.3B in 2026Q1, reflecting a consistent expansion of the firm's productive capacity as it scales operations to meet sustained demand for its high-margin, limited-edition vehicle portfolio.
The steady increase in total assets suggests that management is successfully deploying capital to support long-term production goals. This trajectory indicates that the company is not merely maintaining its current footprint but is actively investing in the infrastructure necessary to sustain its luxury market position.
Based on the provided quarterly data, Ferrari has maintained a debt-to-equity ratio of 0.72 as of 2026Q1, demonstrating a disciplined approach to leverage that balances the need for capital-intensive R&D with the maintenance of a robust, investment-grade balance sheet profile.
The stability of the debt load, which has remained near $2.9B for several quarters, suggests that the company is funding its growth primarily through internal cash generation rather than excessive borrowing. This conservative leverage profile provides the firm with significant financial flexibility to navigate the upcoming transition to electric vehicle platforms.
According to the latest quarterly filings, Ferrari's current ratio stands at 2.41 as of 2026Q1, providing a substantial liquidity buffer that ensures the company can comfortably meet its short-term obligations while continuing to fund its aggressive electrification and production ramp-up initiatives.
The improvement in the current ratio from 1.60 in 2024Q2 to 2.41 in 2026Q1 highlights a strengthening liquidity position that mitigates risks associated with potential supply chain disruptions or cyclical demand shifts. This robust cash position serves as a critical shock absorber for the firm's ongoing capital-intensive investments.
As indicated by the company's balance sheet, net property, plant, and equipment have increased to $2.1B in 2026Q1, signaling a strategic commitment to expanding manufacturing capabilities at the Maranello facility to accommodate new model production and the transition toward electrified powertrains.
The consistent growth in PPE reflects the tangible nature of Ferrari's competitive advantage, which is rooted in its proprietary manufacturing and assembly expertise. Investors should monitor whether these investments yield the expected margin expansion as the company integrates new technologies into its core vehicle lineup.
Based on the reported figures, the company's retained earnings have exhibited significant fluctuations, including a notable dip to -$5.1B in 2025Q4, which suggests that aggressive capital allocation strategies, such as share repurchases, may periodically distort the headline equity position on the balance sheet.
While the company remains highly profitable, the volatility in retained earnings indicates that management is prioritizing shareholder returns, which could potentially mask underlying changes in the firm's long-term equity base. This warrants further investigation into the sustainability of such capital deployment if macro conditions were to tighten.
Quick answers to the most common questions about buying RACE stock.
As of 2025, Ferrari N.V. (RACE) had total assets of $9.63B including $4.82B in current assets.
Ferrari N.V. (RACE) carries total debt of $2.88B, offset by $1.47B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ferrari N.V. (RACE) has total shareholders' equity (book value) of $3.91B ($21.95 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ferrari N.V. (RACE) reported a current ratio of 2.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.