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olivLaw · European equity research

Ferrari Group PLC FERGR.AS

Netherlands · Euronext Amsterdam · Vertical: Listed companies from Netherlands

7.73EUR−0.51% · 1 dayClose 05 Nov 2026

Ferrari Group PLC is a logistics provider for the luxury industry, transporting, storing and delivering high-value goods for international brands. In fiscal 2025 the company reported revenues of 359.4 million euros, and the group listed publicly in February 2025, which raises its visibility for investors.

At the close of 05 Nov 2026, Ferrari Group PLC (FERGR.AS) stock was 7.73 EUR (−0.51% on the day), with beta 0.96, 52-week range 7.15–11.16 EUR.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
unavailable
P/E (TTM)
unavailable
E/P (TTM)
unavailable
Dividend yield
unavailable
Beta (2y)
0.96
Volatility (1y) 35%
52-week range
7.1511.16

Price history

Loading chart…

Technical reading

RSI (14)
54.7
neutral
Bollinger (20, 2)
7.39 – 7.77
in the upper half of the band · %B 0.89 · band width 5.1%
SMA 50 / 200
7.72 / 8.26
mixed trend
MACD (12, 26, 9)
-0.01 / -0.04
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month+4.3%−0.6%+5.0 pp—
3 months−3.0%−4.2%+1.2 pp—
6 months−5.7%+4.3%−10.1 pp—
Year to date−15.4%+7.5%−22.9 pp—
1 year−3.7%+9.9%−13.7 pp+0.3%
3 yearsunavailable+49.8%unavailable+2.2%
5 yearsunavailable+42.8%unavailable—
Max drawdown (1y)
−35.9%
10 Feb 2026 → 30 Jun 2026
Max drawdown (5y)
−35.9%
10 Feb 2026 → 30 Jun 2026
Compound annual growth (5y)
unavailable
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20232024
Revenueunavailableunavailable
Revenue YoYunavailableunavailable
Net income52.9 m55.5 m
Net income YoYunavailable+4.9%
Diluted EPSunavailableunavailable
Diluted EPS YoYunavailableunavailable
net %unavailableunavailable
Free cash flow57.9 m54.1 m

Balance sheet & financial health

Fiscal year 2024 · 31 Dec 2024

Cash
115.8 m EUR
Financial debt
unavailable EUR
Net debt
unavailable EUR
Equity
211.4 m EUR
Total assets
312.9 m EUR
Debt / equity
unavailable
Current ratio
3.14x
ROE
28.7%
ROA
18.7%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (EUR)

Income statement · EUR

Operating income
2023
73.0 m
2024
73.2 m

esef· 20 May 2025verified

Depreciation & amortisation
2023
13.6 m
2024
17.4 m

esef· 20 May 2025verified

EBITDA
2023
86.6 m ≈
2024
90.5 m ≈

esef· 20 May 2025derived

Interest expense
2023
2.3 m
2024
1.7 m

esef· 20 May 2025verified

Pre-tax income
2023
72.1 m
2024
72.8 m

esef· 20 May 2025verified

Income tax
2023
15.2 m
2024
15.5 m

esef· 20 May 2025verified

Net income
2023
52.9 m
2024
55.5 m

esef· 20 May 2025verified

Balance sheet · EUR

Cash
2023
98.8 m
2024
115.8 m

esef· 20 May 2025verified

Inventories
2023
211.0 k
2024
65.0 k

esef· 20 May 2025verified

Current assets
2023
208.1 m
2024
216.2 m

esef· 20 May 2025verified

Property, plant & equipment, net
2023
20.6 m
2024
24.6 m

esef· 20 May 2025verified

Goodwill
2023
2.4 m
2024
2.4 m

esef· 20 May 2025verified

Intangibles (excl. goodwill)
2023
3.5 m
2024
7.6 m

esef· 20 May 2025verified

Total assets
2023
279.6 m
2024
312.9 m

esef· 20 May 2025verified

Current liabilities
2023
77.1 m
2024
68.9 m

esef· 20 May 2025verified

Equity
2023
175.1 m
2024
211.4 m

esef· 20 May 2025verified

Cash flow · EUR

Operating cash flow
2023
67.4 m
2024
62.6 m

esef· 20 May 2025verified

Capex
2023
9.5 m
2024
8.6 m

esef· 20 May 2025verified

Free cash flow
2023
57.9 m ≈
2024
54.1 m ≈

esef· 20 May 2025derived

Investing cash flow
2023
-12.9 m
2024
-13.0 m

esef· 20 May 2025verified

Financing cash flow
2023
-44.1 m
2024
-34.4 m

esef· 20 May 2025verified

Computed indicators

Growth

Revenue growth (YoY)
unavailable
input data missing
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
0.3%
computed by olivLawFY 2024
Net income growth (YoY)
4.9%
computed by olivLawFY 2024
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
input data missing
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
-6.6%
computed by olivLawFY 2024

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
input data missing
Net margin
unavailable
input data missing
FCF margin
unavailable
input data missing

Returns

ROE
30.5%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROA
18.7%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
ROIC
unavailable
input data missing
ROCE
30.0%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
44.2x
computed by olivLawFY 2024

Liquidity

Current ratio
3.1x
computed by olivLawbalance sheet at 31 Dec 2024
Quick ratio
3.1x
computed by olivLawbalance sheet at 31 Dec 2024
Cash ratio
1.7x
computed by olivLawbalance sheet at 31 Dec 2024

Cash

Operating cash flow
62.6 m EUR
computed by olivLawFY 2024
Capital expenditure
8.6 m EUR
computed by olivLawFY 2024
Free cash flow
54.1 m EUR
computed by olivLawFY 2024
FCF conversion
97.5%
computed by olivLawFY 2024
Cash conversion
69.2%
computed by olivLawFY 2024

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
unavailable
input data missing
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
Earnings yield
unavailable
input data missing
P/B
unavailable
input data missing
P/S
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 3 of at least 6
  • score weight coverage: 16.7% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

7.73 EUR

05 Nov 2026Source: olivLaw, closing series

Market cap: unavailable

Key indicators

Market capitalisation
unavailable
input data missing
P/E (TTM)
unavailable
input data missing
P/B
unavailable
input data missing
EV/EBITDA
unavailable
input data missing
ROE
30.5%
computed by olivLawFY 2024 · balance sheet at 31 Dec 2024
Net margin
unavailable
input data missing
Revenue growth (YoY)
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

21/37 reporting lines present
Latest full fiscal year: 2024
Latest reported period: 31 Dec 2024
Latest balance sheet date: 31 Dec 2024
Source: esefpublished 20 May 2025
verified 44

The data is older than the freshness threshold.

Score by group

17% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · input data missing
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Qualityunavailableunavailable—
FCF conversion · Quality97.5%96 (on a fixed band)38%
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet44.2x100 (on a fixed band)38%
Current ratio · Balance sheet3.1x100 (on a fixed band)25%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet100/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality· partial96/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

FERRARI GROUP PLC (FERGR.AS). Latest full fiscal year: 2024; data up to 2024-12-31.

Figures computed from the financial statements: ROE 30.5%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • FCF conversion: 97.5%
  • Interest coverage: 44.2x
  • Current ratio: 3.1x

What contradicts it

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Listed companies from Netherlands · same country · compared with 40 companies

Multiples and returns vs the median

P/E
—
vertical median 18.6x
EV/EBITDA
—
vertical median 9.9x
P/S
—
vertical median 0.8x
P/B
—
vertical median 2.1x
ROE
30.5%
vertical median 5.1%
above median (+499.8%)
Net margin
—
vertical median 2.2%
EBIT margin
—
vertical median 4.2%
Revenue YoY
—
vertical median 3.1%
Net debt/EBITDA
—
vertical median 0.1x
Dividend yield
—
vertical median 2.6%

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
ASML.ASASML Holding N.V.485.6 bn47.644.2%31.3%+15.6%+38% / +101%
DSFIR.ASDSM-Firmenich AG33.7 bn120.51.2%2.2%+20.4%+60% / +30%
AD.ASKoninklijke Ahold Delhaize N.V.31.2 bn13.915.3%2.5%+3.4%−3% / +30%
ASM.ASASM International N.V.31.2 bn43.318.7%22.8%+8.2%+34% / +35%
ADYEN.ASAdyen N.V.28.1 bn26.622.3%40.1%+18.9%−33% / −17%
HAL.ASHAL Trust15.5 bn9.710.5%12.8%+1.2%+22% / +47%
EXO.ASExor N.V.15.0 bn—-10.6%—−100.0%+1% / −18%
BESI.ASBE Semiconductor Industries N.V.11.2 bn84.928.7%22.3%−2.7%+8% / +10%
AKZA.ASAkzo Nobel N.V.10.7 bn17.013.8%6.3%−5.2%+12% / −11%
AALB.ASAalberts N.V.4.5 bn25.47.2%5.7%−5.3%+48% / +13%
ARCAD.ASArcadis N.V.4.2 bn20.218.3%4.3%−2.4%+24% / +2%
BNJ.ASBanijay Group N.V.3.4 bn13.8343.8%5.1%+1.6%−11% / −8%
BAMNB.ASKoninklijke BAM Groep N.V.3.3 bn41.89.1%1.3%+2.9%+47% / +400%
BFIT.ASBasic-Fit N.V.2.0 bn138.23.6%1.0%+16.9%+7% / +16%
HAVAS.ASHavas N.V.1.8 bn9.610.2%6.5%+1.7%+26% / unavailable
CRBN.ASCorbion N.V.1.6 bn8.327.3%14.9%+1.9%+40% / +55%
ECMPA.ASEurocommercial Properties N.V.1.4 bn11.25.9%45.4%+4.2%−4% / +19%
FUR.ASFugro N.V.985.3 m—-1.5%-1.1%−18.8%−0% / −49%
ACOMO.ASAcomo N.V.685.9 m15.210.7%3.3%+7.6%−3% / +37%
FAST.ASFastned B.V.663.0 m—-28.2%-21.7%+66.1%+60% / +25%
FFARM.ASForFarmers N.V.479.4 m9.614.5%1.6%+14.8%+22% / +123%
BRNL.ASBrunel International N.V.383.2 m125.51.0%0.3%−10.8%−6% / −29%
ENVI.ASEnvipco Holding N.V.224.1 m—-12.7%-11.9%−20.8%−25% / +47%
ALFEN.ASAlfen N.V.219.8 m—-0.1%-0.0%−10.7%−4% / −78%
CMCOM.ASCM.com N.V.192.5 m—-22.2%-1.5%−5.4%+23% / −30%

1- and 3-year price returns: for FERGR.AS from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

Ferrari Group PLC is a logistics provider for the luxury industry, transporting, storing and delivering high-value goods for international brands. In fiscal 2025 the company reported revenues of 359.4 million euros 1, and the group listed publicly in February 2025, which raises its visibility for investors.

SWOT

Strengths

  • The company is a trusted long-term partner to leading luxury brands, supported by sector expertise and high service standards 1.
  • A scalable business model and a flexible cost base allow expansion without large capital investment 1.
  • A cash position and financing without restrictive covenants give financial flexibility 1.

Weaknesses

  • The adjusted EBITDA margin declined slightly in fiscal 2025 as personnel costs rose 1.
  • Dependence on the luxury market and on a few geographic areas makes revenues sensitive to local changes 1.
  • Costs linked to the Italian customs litigation and to the listing affected the fiscal 2025 result 1.

Opportunities

  • Expansion into growth regions such as the Middle East and India could bring new customers 1.
  • Demand for secured storage and special services could lift revenues in the smaller segments 1.
  • Investment in digital transformation could improve operating efficiency and cost control 1.

Threats

  • Competitive pressure could lead to the loss of clients or to lower prices 1.
  • Regulatory changes, international trade shifts and geopolitical tensions could reduce demand 1.
  • Cyber incidents or IT system disruptions could affect services and customers 1.

Risks

  • Litigation and legal riskmedium

    The company may be involved in disputes with customers, employees or authorities, and outcomes can include significant costs and damages 1.

  • Sanctions and AML compliancemedium

    Operations across several jurisdictions could lead to penalties if compliance rules are not met 1.

  • Competitive pressuremedium

    The entry of aggressive competitors could reduce market share and press margins 1.

  • Geopolitical and trade riskhigh

    Geopolitical tensions and changes in trade policy could disrupt routes and demand 1.

  • IT security and cyber riskmedium

    System disruptions or cyberattacks could lead to service losses and to the loss of customers 1.

Investment thesis

What would need to be true (bull case)

  • If route expansion and growth in luxury goods volumes continue, revenues could keep rising, supported by the scalable model 1.
  • Demand for tailored services and secured storage could lift revenues from the special services segment 1.
  • A solid financial position without restrictive loan covenants could support investment in expansion and digitalisation 1.

What would break the thesis

  • If personnel costs keep growing faster than revenues, the operating margin could decline further 1.
  • The contraction of the Chinese market shows how geographic exposure can quickly affect revenues in one region 1.
  • Competitive pressure and possible price reductions could limit profitability growth 1.

What to watch

  • Trend in adjusted EBITDA margin and personnel costs2026
  • Revenue trend in Asia, especially China2026
  • Outcome of litigation and of the Italian customs settlement costsnext 10-K
  • Progress of digital transformation investments and IT efficiency2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

The group's business model connects leading luxury brands with their customers through tailored, high-quality transport and logistics services 1. The company presents itself as a one-stop shop for luxury logistics worldwide, covering transport, storage and special services 1. Revenues are linked to shipment volume, weight and value, with pricing tied to the value of the goods to protect margins 1.

The cost base is centred on transportation, packaging and personnel, which supports rapid expansion with limited capital investment 1. A global network of subsidiaries and strategic partners provides operational flexibility 1. As route development and volumes grew, the company also expanded offices and warehouses, particularly in Spain, France, Thailand and Italy 1.

Segments

Domestic Services

Domestic Services generated 59.8 million euros in fiscal 2025, up from the prior year, and benefited from higher international volumes, particularly in France, Germany, Italy, the United States and Dubai 1.

Market context

The group operates in luxury logistics, a specialised segment with a limited number of operators and high service expectations from customers 1. Europe accounted for 59.1% of revenues 1, while Asia fell to 15.1% of revenues because of the contraction of the Chinese market 1.

The group's activity depends on the flow of luxury goods between countries, on trade and customs rules, and on geopolitical conditions. If these flows contract, demand for the company's services could decline 1.

Trends

  • Route and volume expansiontailwind

    Growth in the volume of goods transported and in the number of shipments, together with route network optimisation, supported revenues in fiscal 2025 1.

  • Demand for tailored servicestailwind

    Customers increasingly ask for special services such as hand-carry and white glove, and private events and fairs have grown 1.

  • Contraction of the Chinese marketheadwind

    Lower volumes in China reduced Asian revenues, which the company linked to a general contraction of the Chinese market 1.

  • Rising personnel costsmixed

    Personnel costs grew faster than revenues, which pressured the adjusted EBITDA margin as hiring and geographic expansion continued 1.

Competitive position

The competitive risks described by the company include the entry of aggressive pricing competitors and pressure on margins if prices must be adjusted 1. The company responds with its pricing strategy, a premium positioning and operational innovation 1.

Competitors include specialised luxury logistics operators and international transport providers, and the company notes that an integrated service model can help it grow its share of wallet with existing clients 1.

  • Specialised luxury logistics operators

    Companies in this segment, cited in the report as a source of competitive pressure, are not named in the source.

  • Global logistics and transport providers

    Firms competing through international services and technology, referred to generically in the risk discussion of the report.

  • New entrants with digital solutions

    Digital platforms or advanced logistics providers that could change sector dynamics, according to the source.

  • Regional warehousing operators

    Local providers that could compete in warehousing and secured storage in Europe and Asia.

News & filings

In the press

No news in our archive over the last 180 days.

Annual reports (ESEF)

Sources

  1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Ferrari Group PLC · 31 Dec 2025

Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

Ferrari Group PLC (FERGR.AS): stock, results, valuation and forecast · olivLaw