Ferrari N.V. (RACE) Balance Sheet

NYSE: RACEAssets, liabilities, debt and equity over 10 years.

RACE balance sheet, 2025

December 31, 2025 · euros

€9.63B assets = €5.71B liabilities + €3.91B equity

What it owns€9.63BCash & ST investments: €1.47B (15.3%)Cash & ST investments€1.47B · 15%Receivables: €2.01B (20.8%)Receivables€2.01B · 21%Inventory: €1.11B (11.6%)Inventory€1.11B · 12%Other current: €232.9M (2.4%)PP&E: €2.06B (21.4%)PP&E€2.06B · 21%Goodwill & intangibles: €2.42B (25.2%)Goodwill & intangibles€2.42B · 25%LT investments: €96.4M (1.0%)Other non-current: €226.0M (2.3%)=How it is financed€9.63BCurrent liabilities: €2.39B (24.8%)Current liabilities€2.39B · 25%Long-term debt: €2.72B (28.3%)Long-term debt€2.72B · 28%Other LT liabilities: €601.7M (6.2%)€601.7MShareholders’ equity: €3.91B (40.7%)Shareholders’ equity€3.91B · 41%

Both columns are drawn to the same scale: what RACE owns equals what it owes plus shareholders’ equity. Hover a block for its value.

RACE financial health

Current ratio2.02
Comfortable · current assets cover current liabilities 2.02×
Debt / equity0.74
Moderate leverage · €0.74 of debt for each $1 of equity
Equity / assets40.6%
Equity-funded · of assets funded by shareholders
Cash / debt51.0%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles25.2%
Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

RACE balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assets€3.85B2016€9.63B2025+10.7%/yr
Total liabilities€3.52B2016€5.71B2025+5.5%/yr
Shareholders’ equity€325.0M2016€3.91B2025+31.8%/yr
Cash & short-term investments€463.7M2016€1.47B2025+13.7%/yr
Total debt€1.85B2016€2.88B2025+5.1%/yr
Net cash (debt)−€1.38B2016−€1.41B2025−€27.7M
Working capital€1.17B2016€2.43B2025+€1.3B
Current ratio2.6320162.022025−0.61
Debt / equity5.6920160.742025−4.95
Shares outstanding188.9M2016178.3M2025−0.6%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

RACE assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

RACE liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

RACE debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

RACE balance sheet in euros

2025202420232022202120202019201820172016
Assets
Cash & short-term investments€1.47B€1.75B€1.13B€1.40B€1.35B€1.71B€899.9M€797.0M€651.7M€463.7M
Cash & equivalents€1.47B€1.74B€1.12B€1.39B€1.34B€1.67B€897.9M€793.7M€647.7M€457.8M
Short-term investments€4.4M€5.7M€5.6M€7.1M€1.9M€47.3M€2.0M€3.4M€4.0M€5.9M
Receivables€2.01B€2.08B€1.79B€1.73B€1.40B€417.7M€1.27B€217.9M€242.9M€252.4M
Inventory€1.11B€1.09B€948.5M€674.7M€540.6M€563.6M€420.1M€391.1M€393.8M€324.0M
Other current assets€232.9M€100.3M€120.3M€153.6M€72.5M€126.4M€53.5M€1.07B€792.7M€847.4M
Total current assets€4.82B€5.02B€3.99B€3.95B€3.36B€2.82B€2.64B€2.48B€2.08B€1.89B
Property, plant & equipment (net)€2.06B€1.83B€1.58B€1.46B€1.35B€1.50B€1.07B€850.5M€710.3M€669.3M
Goodwill & intangible assets€2.42B€2.33B€2.20B€2.09B€1.92B€2.16B€1.62B€1.43B€1.23B€1.14B
Long-term investments€96.4M€80.8M€67.7M€59.5M€54.5M€42.8M€38.7M€32.1M€30.0M€22.0M
Other non-current assets€226.0M€236.8M€217.6M€203.4M€168.8M€1.14B€73.7M€60.7M€94.1M€131.3M
Total assets€9.63B€9.50B€8.05B€7.77B€6.86B€7.66B€5.45B€4.85B€4.14B€3.85B
Liabilities
Accounts payable€841.3M€945.7M€930.6M€903.0M€797.8M€873.4M€711.5M€653.8M€607.5M€614.9M
Short-term debt€962.3M€1.33B€724.4M€963.5M€501.3M€1.09B€421.3M€0€0€289.9M
Deferred revenue€424.6M€335.5M€295.7M€270.4M€256.2M€270.8M−€421.3M−€352.4M−€306.0M−€399.9M
Total current liabilities€2.39B€1.49B€1.49B€1.41B€1.33B€2.15B€804.6M€742.8M€713.7M€717.9M
Long-term debt€2.72B€3.23B€2.40B€2.75B€2.57B€2.66B€2.09B€1.93B€1.81B€1.85B
Lease obligations€162.1M€126.3M€73.0M€57.4M€56.2M€62.3M€60.5M€0€0€0
Other long-term liabilities€601.7M€1.24B€1.09B€996.3M€752.2M€664.9M€1.06B€827.9M€837.3M€953.9M
Total liabilities€5.71B€5.95B€4.98B€5.16B€4.65B€5.47B€3.96B€3.50B€3.36B€3.52B
Shareholders' equity
Common stock & paid-in capital€2.6M€2.6M€2.6M€2.6M€2.6M€3.1M€2.6M€2.5M€2.5M€2.5M
Retained earnings (deficit)−€5.06B€3.52B€2.99B€2.50B€2.19B−€5.68B€1.45B€1.32B€746.3M€302.3M
Treasury stock——————€0€0€0€0
Accumulated other comprehensive income€3.19B€13.1M€64.9M€90.5M€10.9M€807.4M€26.0M€26.7M€29.8M€20.2M
Minority interest€7.8M€9.3M€9.7M€9.6M——€0€0€0€0
Total shareholders' equity€3.91B€3.53B€3.06B€2.59B€2.21B€2.18B€1.49B€1.35B€783.9M€325.0M
Key figures
Total debt€2.88B€3.35B€2.48B€2.81B€2.63B€3.33B€2.51B€1.93B€1.81B€1.85B
Net cash (debt)−€1.41B−€1.60B−€1.35B−€1.42B−€1.28B−€1.62B−€1.61B−€1.13B−€1.15B−€1.38B
Working capital€2.43B€3.53B€2.50B€2.54B€2.04B€676.6M€1.84B€1.73B€1.37B€1.17B
Tangible book value€1.48B€1.20B€856.0M€500.3M€282.5M€25.3M−€135.8M−€82.3M−€441.7M−€814.6M
Shares outstanding178.3M180.0M181.5M183.1M184.7M185.4M187.5M189.4M189.8M188.9M
Current ratio2.023.372.682.802.541.323.283.342.922.63
Quick ratio1.462.571.962.212.070.992.691.371.251.00
Debt / equity0.740.950.811.081.191.531.691.432.305.69
Equity / assets40.6%37.2%38.0%33.4%32.1%28.5%27.3%27.8%18.9%8.4%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed February 19, 2026); data from EODHD.

RACE financial position

At the end of fiscal 2025 (December 31, 2025), Ferrari had total assets of €9.6 billion (up 1.4% from a year earlier), total liabilities of €5.7 billion and shareholders' equity of €3.9 billion. It held €1.5 billion in cash and short-term investments against €2.9 billion of debt, net debt of €1.4 billion. Its current ratio was 2.02. In the latest quarter (ended June 30, 2026) total assets were €10.2 billion and equity €3.7 billion.

Related: RACE income statement, RACE cash flow statement, RACE key metrics. See the RACE stock overview for the latest quote and news.

RACE balance sheet FAQ

What are Ferrari's total assets?

Ferrari reported total assets of €9.6 billion at the end of fiscal 2025 (December 31, 2025), compared with €9.5 billion a year earlier.

How much debt does Ferrari have?

Ferrari had €2.9 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.74.

How much cash does Ferrari have?

Ferrari held €1.5 billion in cash and short-term investments at the end of fiscal 2025; with €2.9 billion of debt that is net debt of €1.4 billion.

What is Ferrari's book value?

Ferrari's shareholders' equity (book value) was €3.9 billion at the end of fiscal 2025.

What is Ferrari's current ratio?

Ferrari had current assets of €4.8 billion and current liabilities of €2.4 billion, a current ratio of 2.02 (it can cover its short-term obligations).

How much goodwill does Ferrari have?

Ferrari carried €2.4 billion of goodwill and intangible assets, 25.2% of total assets, at the end of fiscal 2025.

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