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Morningstar

Morningstar

May 21, 2026

Ferrari N.V.: Wide-Moat Ferrari Exemplifies the Power of Value Over Volume

Symbols

RACE

Sector(s)

Consumer Cyclical

Rating

Current Price

391.86

Fair Value

Economic Moat

Stewardship

Summary

Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2025, the company sold 13,640 vehicles at an average price over EUR 520,000 with more than 80% of its vehicles being sold to existing Ferrari clients. Eighty-four percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle ac

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