Ferrari stock gets 2026 target boost after Q3 margin gains

Published on 11/05/2026 at 12:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Ferrari stock follows stronger third-quarter margins and a higher 2026 outlook. A richer model mix and customer personalizations lifted profitability.

Ferrari raises targets after strong quarter

Third-quarter revenue rose as richer vehicle mix and customer personalizations supported profitability.
Ferrari lifted its 2026 revenue, adjusted EBITDA, adjusted EBIT and diluted EPS targets.
The order book extends into 2028, while initial Luce electric-car deliveries are underway.

Ferrari, NL0011585146, Illustration mit AI erstellt.

Ferrari raised its 2026 targets after reporting stronger third-quarter profitability on November 3, according to the company's financial results release. The preliminary unaudited figures cover the three months and nine months ended September 30, 2026.

Net revenue rose 7 percent year over year to 1.896 billion euros, or 10 percent at constant currency. Revenue from cars and spare parts increased 7 percent to 1.586 billion euros, supported by a richer sports-car mix and stronger customer personalizations.

Higher margins support revised outlook

Operating profit reached 563 million euros, up 12 percent, while the operating margin was 29.7 percent. EBITDA also rose 12 percent to 753 million euros, producing a 39.7 percent margin. Ferrari said the gains were mainly driven by product mix, including the F80, and higher personalizations. Higher depreciation and amortization linked to new-model production and increased marketing expenses partly offset the improvement.

Net profit increased to 431 million euros from the prior-year quarter, and diluted earnings per share rose to 2.44 euros from 2.14 euros. Industrial free cash flow reached 567 million euros, helped by profitability and working capital.

Ferrari raised its 2026 revenue target to approximately 7.65 billion euros from 7.60 billion euros. Adjusted EBITDA guidance increased to at least 3.00 billion euros from 2.97 billion euros, while adjusted EBIT guidance moved to at least 2.285 billion euros from 2.26 billion euros. The company also lifted its adjusted diluted EPS target to at least 9.85 euros from 9.68 euros and industrial free cash flow guidance to as much as 1.65 billion euros.

Management attributed the upgrades to stronger-than-expected personalizations, lower net currency headwinds and the assumption of a second-place Formula 1 championship finish. Chief Executive Benedetto Vigna said the order book reaches into 2028 and that two further launches remain scheduled for this year.

Model changeover remains in focus

Ferrari delivered 3,368 vehicles in the quarter, 33 fewer than a year earlier, as it continued its planned model changeover. The company said deliveries of the Amalfi, 296 Speciale, 12Cilindri Spider and Purosangue increased, while newer models continued to ramp up. Reuters also reported that planned 2027 sales of the fully electric Luce were already fully allocated and that initial customer deliveries were taking place in the current quarter.

Ferrari stock traded at 380.73 euros on Lang & Schwarz at 12:30 CET on Thursday, November 5, 2026. Investors will weigh the upgraded targets against lower unit deliveries and the execution risk associated with the model transition. The real-time quote of Ferrari stock is available separately.