FERRARI N.V Reports Second Quarter Earnings for 2023 Fiscal Year.
August 9, 2023
🌥️Earnings Overview
On August 2, 2023, FERRARI N.V ($NYSE:RACE) released its financial results for the second quarter of the fiscal year ending June 30, 2023. Total revenue for the quarter increased 14.1% year-on-year to EUR 1473.7 million, and the company reported net income of EUR 333.2 million, a 33.8% increase compared to the same period last year.
Share Price
On Wednesday, FERRARI N.V reported its second quarter earnings for the 2023 fiscal year. The stock opened at $311.9 and closed at $313.6, representing a slight decrease of 1.3% from its previous closing price of $317.6. This marks the second consecutive quarter where the stock has seen a decline in its share price.
The company’s chief executive officer, John Elkann, noted that FERRARI N.V had encountered a challenging market environment due to macroeconomic conditions and increased competition in the sector, but was encouraged by the company’s progress in developing new models and technologies. He added that the company would continue to focus on innovation and efficiency to drive future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ferrari N.v. More…
| Total Revenues | Net Income | Net Margin |
| 5.52k | 1.07k | 19.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ferrari N.v. More…
| Operations | Investing | Financing |
| 1.52k | -855.07 | -750.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ferrari N.v. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.95k | 5.22k | 15.03 |
Key Ratios Snapshot
Some of the financial key ratios for Ferrari N.v are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.2% | 27.1% | 26.4% |
| FCF Margin | ROE | ROA |
| 12.1% | 33.0% | 11.5% |
Analysis
GoodWhale recently performed an analysis of FERRARI N.V‘s wellbeing. According to the Star Chart, FERRARI N.V has a high health score of 8/10, indicating its strong cashflows and debt capabilities are sufficient to ride out any crisis without the risk of bankruptcy. Classified as a ‘gorilla’ company, FERRARI N.V has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes it an attractive option for investors who are looking for a safe and reliable investment that has the potential for growth. FERRARI N.V is strong in asset, dividend, growth, and profitability, making it an attractive option for value investors, as well as those looking for a steady income stream. The company’s strong competitive advantage makes it a great option for growth investors looking for long-term returns. Overall, FERRARI N.V is an ideal investment choice for many types of investors. Its high health score and strong competitive advantage make it a stable and secure option, while its potential for growth and steady income make it an attractive choice for those looking to make long-term returns. More…
Peers
In the automotive industry, there is intense competition between Ferrari NV and its competitors General Motors Co, Ford Motor Co, and Fisker Inc. These companies are constantly striving to outdo each other in terms of innovation, design, and performance. As a result, the customer benefits from this competition in the form of better products and services.
– General Motors Co ($NYSE:GM)
General Motors Company, commonly referred to as GM, is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services. With global headquarters in Detroit’s Renaissance Center, GM employs approximately 166,000 people in every major region of the world. As of 2018, General Motors is ranked #10 on the Fortune 500 rankings of the largest United States corporations by total revenue.
GM’s market cap is $53.79B as of 2022 and its ROE is 11.79%. The company designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.
– Ford Motor Co ($NYSE:F)
Return on equity is a measure of profitability that calculates how much profit a company generates with the money shareholders have invested. The higher the return on equity, the more profitable the company is. Ford Motor Company’s return on equity is 23.7%. This means that for every dollar invested by shareholders, the company generates 23.7 cents in profit.
Ford Motor Company is an American multinational automaker that designs, manufactures, markets, and services vehicles worldwide. The company was founded in 1903 by Henry Ford and is headquartered in Dearborn, Michigan. Ford Motor Company sells vehicles under the Ford and Lincoln brands.
– Fisker Inc ($NYSE:FSR)
Fisker Inc is an American electric vehicle manufacturer founded in 2016 by Henrik Fisker, former CEO of Fisker Automotive. The company’s first product is the Ocean SUV, which is scheduled to go into production in late 2021. The Ocean is a battery-electric vehicle with a range of over 250 miles and a starting price of $37,499. Fisker Inc also offers a unique lease-to-own program that allows customers to own their car after 36 monthly payments.
Fisker Inc’s market cap is 2.3B as of 2022. The company’s Return on Equity is -44.42%.
Fisker Inc is an American electric vehicle manufacturer founded in 2016 by Henrik Fisker, former CEO of Fisker Automotive. The company’s first product is the Ocean SUV, which is scheduled to go into production in late 2021. The Ocean is a battery-electric vehicle with a range of over 250 miles and a starting price of $37,499. Fisker Inc also offers a unique lease-to-own program that allows customers to own their car after 36 monthly payments.
Summary
FERRARI N.V reported strong second quarter financial results for the fiscal year 2023, with total revenue rising 14.1% year-over-year to EUR 1473.7 million. Net income was also up significantly by 33.8% to EUR 333.2 million. This excellent performance is indicative of the company’s strong fundamentals and may serve as a sign of continued growth in the future.
As such, this could be a good opportunity for investors looking to capitalize on potential upside in FERRARI N.V’s stock price. Investors should conduct their own due diligence and research the company thoroughly before investing.
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