Ferrari is positioning itself for a powerful 2026, with momentum building far beyond the racetrack. The company’s recent pre-season Formula 1 tests coincided with the release of robust annual financial results and a significant boost to shareholder returns, creating a compelling narrative for investors.
Shareholder Rewards Take Center Stage
In a move that directly benefits investors, Ferrari’s board has proposed a substantial dividend increase for 2025. The recommended payout is €3.615 per share, marking a 21% rise compared to the previous year. This distribution, totaling approximately €640 million, is subject to approval at the Annual General Meeting scheduled for April 15, 2026.
This enhanced dividend runs parallel to an ongoing multi-year share repurchase initiative. The program, valued at €3.5 billion and extending to 2030, is already active. Since the start of the year, the company has bought back over 307,000 of its own shares for nearly €92 million. These actions have increased Ferrari’s treasury share holding to 8.74% of its total equity.
Financial Performance: Prioritizing Profit Over Volume
The 2025 financial figures underscore Ferrari’s disciplined strategy of managed growth and premium positioning. The company delivered 13,640 vehicles, intentionally keeping volume nearly flat year-over-year. The focus, however, shifted decisively toward higher-margin models, including the Daytona SP3 and the 12Cilindri.
This product mix supported a 7% revenue increase to €7.15 billion. Net profit advanced by 5% to €1.6 billion, while operating cash flow remained strong, exceeding €1.5 billion. Six new models were launched in 2025, featuring the 296 Speciale and the initial unveiling of the brand’s first all-electric vehicle, the Ferrari Luce.
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Looking ahead to 2026, management is targeting revenue of about €7.5 billion. A key ambition is to elevate the EBITDA margin to an industry-leading 39%. Improved commercial revenue from the racing division, fueled by new sponsorships and a stronger finish in the 2024 F1 championship, supports this optimistic outlook.
Technical Prowess on the F1 Circuit
On the engineering front, Ferrari’s 2026 Formula 1 power unit, the SF-26, demonstrated clear advantages during pre-season testing in Bahrain. The car’s acceleration from a standstill notably outperformed rivals, a critical factor under the sport’s new technical regulations. Ferrari and its customer teams dominated practice race-start simulations.
This edge stems from a unique design philosophy. Ferrari is the sole manufacturer to utilize a smaller turbocharger optimized for lower engine speeds, providing superior responsiveness during race starts and in slow-speed corners—a deliberate contrast to the larger turbo approaches of competitors. The SF-26, developed for a comprehensive new set of rules, also incorporates movable front wings and a significantly increased hybrid energy contribution.
The Electric Future: The Luce Debut
A new chapter for the iconic marque is set to begin on May 25, 2026, with the global premiere of the fully electric Ferrari Luce in Rome. The vehicle’s interior design is a collaboration with former Apple designer Jony Ive. Investors will receive an early progress update when the company releases its Q1 2026 quarterly results on May 5.
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