Ferrari Equity Report

Andrea Zito
Jan 13
1 min read

Updated: Jan 14

Ferrari is often described as a car manufacturer, but in reality it operates much closer to a global luxury house. In this Equity Report, the Bocconi Students Asset Management Club explores how Ferrari has successfully combined engineering excellence, brand scarcity, and financial discipline to build one of the most profitable and resilient business models in the automotive world. From its racing DNA and tightly controlled production volumes to its expanding lifestyle ecosystem, Ferrari has evolved into a benchmark for value over volume, commanding luxury-level margins and investor attention worldwide

The report provides a comprehensive analysis of Ferrari’s strategy, financial performance, and valuation outlook. It examines the company’s positioning within the luxury performance car industry, its gradual and selective approach to electrification, and the role of Formula 1 as both a technological laboratory and a brand amplifier. A detailed financial and valuation analysis highlights Ferrari’s strong cash generation, conservative balance sheet, and premium market multiples, while the ESG section evaluates how sustainability, governance, and social initiatives are increasingly embedded in long-term value creation. Overall, the report concludes with a balanced investment view, recognizing Ferrari’s exceptional quality while acknowledging that much of its growth potential is already reflected in the market price