October 2, 2023

3R Trail

Feel the difference

Ferrari: A Luxury Automotive, In A League Of Its Own (NYSE:RACE)

peepo/E+ via Getty Images

The automotive industry generally repels long-term passive investors due to its cyclical nature and capital intensity. However, there could be potential outliers. High-end automakers like Tesla (TSLA), Ferrari (NYSE:RACE), Mercedes (OTCPK:MBGAFOTCPK:DRPRFSTLAOTCPK:BMWYY

Chart
Data by YCharts

Units graph

Ferrari’s 2022 Annual Report

Segment breakdown

Created by author using data from Ferrari’s annual reports

Units delivered graph

Created by author using data from the companies’ financial reports

Average Price Graph

Created and calculated by author using data from the Companies’ financial reports

Gross margin trend

Created by author using data from the companies’ financial reports

ROCE line graph

Created and calculated by author using data from the companies’ financial reports

Capex % graph

Created and calculated by author using data from the companies’ financial reports

Financial Model

Created by author using data from Ferrari’s financial reports and author’s projections