Ferrari's stock suffers its worst day ever after capital-markets day
By Steve Goldstein
Ferrari's 2030 goals didn't impress the market.
Ferrari, the premium sports-car maker with an equally expensive valuation, saw its worst day ever after a capital-markets-day presentation.
Ferrari's stock (IT:RACE) (RACE) fell 13% in Milan trade as the company targeted earnings before interest and tax, or EBIT, of at least EUR2.75 billion on revenue of EUR9 billion by 2030.
Analysts polled by Visible Alpha had expected EBIT of EUR3.25 billion in 2030 on revenue of EUR10 billion.
Ferrari's numbers indicate a compounded annual growth rate of 5%; analysts at Italian brokerage Equita had expected 6% in a preview ahead of the event.
Outside of Tesla (TSLA), Ferrari's price-to-estimated-2026-earnings ratio of 40 is one of the priciest in the industry.
Ferrari did narrowly boost its 2025 guidance for adjusted earnings per share, revenue and free cash flow.
Ferrari had been expected to lower its ambitions for electric vehicles, which it did, paring its forecast that EV would represent 20% of sales from 40% previously.
-Steve Goldstein
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10-09-25 0714ET
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