Scuderia Ferrari HP: Business Model, Financial Trajectory and Competitive Position
Ferrari N.V. reported consolidated net revenues of €1.848 billion in 2026, up from €1.791 billion in 2025, with EBIT of €548 million and an EBITDA margin that has held above 37% across recent quarters.
Scuderia Ferrari HP sits at the centre of this commercial machine — the racing team's global visibility underpins the brand premium that sustains those margins across road cars, licensing, and a rapidly expanding sponsorship portfolio. [Sbircialanotizia.it]
The structural tension is straightforward: the team carries the most storied name in Formula One, having competed without interruption since 1950, yet has not won a Constructors' Championship since 2008. The HP title partnership, signed in April 2024, and a succession of multi-year official partner agreements signal a deliberate push to monetise the brand's value independently of on-track results — but for any partner or investor, the gap between commercial momentum and championship performance is the defining question. [Formula 1] [Ferrari N.V. via company announcement]
Scuderia Ferrari HP is Formula One's oldest and most decorated team, operating as a division of Ferrari S.p.A. from Maranello, Italy.
Founded in 1950 and racing without interruption ever since, the team competes under the full name Scuderia Ferrari HP following a title partnership with HP Inc. announced in April 2024.
Scuderia Ferrari HP is the motor racing division of the Italian luxury automobile manufacturer Ferrari S.p.A., which is itself the wholly owned Italian subsidiary of the publicly listed holding company Ferrari N.V. The team is based in Maranello, in the province of Modena, Italy — the same site as Ferrari's road-car engineering and manufacturing operations. It competes under the full team name Scuderia Ferrari HP, as listed in the official Formula One team profile. [Wikipedia] [GlobeNewswire] [Formula 1]
The team entered the Formula One World Championship in 1950, the inaugural season of the competition, and has competed in every championship season since. That unbroken record is cited by partners and the team itself as the defining marker of its competitive heritage. The current chassis is designated the SF-26 and is powered by Ferrari's own power unit — the team manufactures both car and engine in-house, a capability shared by only a small number of constructor teams in the championship. [Formula 1] [HP Inc.]
In April 2024, Ferrari and HP Inc. announced a multi-year title partnership that changed the team's name and brand identity to Scuderia Ferrari HP across its Formula One operation, its Scuderia Ferrari Esports team, the Ferrari Esports Series, and the Scuderia Ferrari car competing in the F1 Academy series. HP Inc. holds the rights to display the Ferrari brand across these racing properties under an agreement signed by Ferrari S.p.A. The branding took effect from the 2024 Miami Grand Prix. [Ferrari] [GlobeNewswire]
The team's primary customer relationship is with Formula One itself — it generates revenue through prize-fund distributions, commercial sponsorship, licensing, and the broader brand value its on-track presence creates for Ferrari's road-car and luxury goods businesses. Its technical operations in Maranello serve the racing team as well as other Ferrari-branded racing programmes. The team chief is Frédéric Vasseur and the technical leadership is shared between Loic Serra and Enrico Gualtieri. [Ferrari] [Formula 1]
No standalone revenue or cost data for the racing division is publicly disclosed. All financial figures in this report relate to Ferrari N.V. on a consolidated basis.
Ferrari N.V. has compounded revenues and margins across a multi-year period, with 2026 marking the latest step in a consistent growth trajectory.
Net revenues rose from levels in the low €200 million range in 2020 to €1.848 billion in 2026 alone, while EBIT and EBITDA margins have held at operationally strong levels throughout.
Ferrari N.V.'s consolidated financial performance reflects a business that has grown revenues consistently over the 2020–2024 period. Investing.com Italia data shows total revenue figures of 236.22, 310.35, 333.04, 348.76, and 359.37 across the years ending 31 December 2020, 2021, 2022, 2023, and 2024 respectively, though the currency denomination and exact unit of these figures is not specified in the source excerpt. The directional trend — sustained revenue growth across each successive year — is clear regardless of unit. [Investing.com Italia]
| Period | Net Revenues | EBIT |
|---|---|---|
| Q3 2025 | 1766 €M | 503 €M |
| 2026 | 1848 €M | 548 €M |
Quarterly results provide the most current and precisely sourced picture. In Q3 2025, Ferrari reported net revenues of €1,766 million, up 7.4% year on year (9.3% at constant currency). Operating profit (EBIT) reached €503 million in the quarter, an increase of 7.6% versus the prior year, with an EBIT margin of 28.4%. EBITDA for Q3 2025 was €670 million, up 5.0% year on year, with an EBITDA margin of 37.9%. Net profit in Q3 2025 was €382 million, with diluted earnings per share of €2.14. Industrial free cash flow generation in the quarter was €365 million. [Ferrari N.V.]
The 2026 results confirm the trajectory has continued into the current year. Net revenues reached €1.848 billion in 2026, up from €1.791 billion in 2025 — an increase of €57 million. EBIT rose from €542 million in 2025 to €548 million in 2026, and EBITDA rose from €693 million to €722 million over the same period. Net profit was €413 million in 2026, compared with approximately €412 million in 2025. Ferrari delivered 3,436 cars in 2026. [Sbircialanotizia.it]
The margin profile is notable: an EBIT margin of 28.4% in Q3 2025 and an EBITDA margin above 37% in both Q3 2025 and 2026 are substantially above typical automotive sector benchmarks, reflecting Ferrari's positioning at the luxury end of the market where order books, not volume, determine output. The combination of controlled delivery volumes, strong pricing power, and a diversified commercial base — including the sponsorship revenues associated with Scuderia Ferrari HP — underpins the margin resilience.
The Investing.com Italia annual figures lack a specified currency denomination and unit in the retrieved excerpt; they are cited for directional trend only. All quarterly figures are drawn from Ferrari N.V.'s official results announcements and a secondary Italian financial news source reporting those results. No standalone financial data for the racing division is disclosed. Analyst note: sources disagree on Ferrari 2026 financial figures — period labelling. One figure is Cover (paragraphs): 'Ferrari N.V. reported consolidated net revenues of €1.848 billion in 2026, up from €1.791 billion in 2025'; another is Financials section: 'Net revenues reached €1.848 billion in 2026, up from €1.791 billion in 2025 — Ferrari delivered 3,436 cars in 2026'. Both are presented where they appear; the difference reflects differing measurement bases and is not reconciled in available public data. Analyst note: sources disagree on Ferrari 2026 EBIT margin — Finding 1 vs financials section. One figure is [DISPLAY] Finding 1 headline: 'sustaining an EBIT margin above 29%' (548/1848 = 29.7%); another is Financials section: 'an EBIT margin of 28.4%' cited for Q3 2025; no 2026 EBIT margin stated in body. Both are presented where they appear; the difference reflects differing time periods and is not reconciled in available public data.
Scuderia Ferrari HP monetises its racing heritage through a layered commercial structure that combines an HP title partnership with a growing roster of official and premium partner agreements.
The team operates as Ferrari's primary global brand ambassador in motorsport, generating commercial value through sponsorship, technology integration, esports, and fan engagement — all sitting within the broader Ferrari luxury ecosystem.
The Scuderia Ferrari HP brand identity covers four distinct racing-related properties: the Formula One team, the Scuderia Ferrari Esports team, the Ferrari Esports Series, and the Scuderia Ferrari car in the F1 Academy series. This breadth gives commercial partners visibility across multiple platforms and audience demographics — from the 500-million-plus broadcast audience of Formula One to the growing esports and youth-focused F1 Academy following. [Ferrari]
The commercial model operates through a hierarchy of partnership tiers. HP Inc. holds the title partnership, carrying the highest-profile branding position and providing technology integration across the team's operations: adaptive PCs and devices, conferencing technology, and printing capabilities are embedded into training and strategic decision-making processes on and off the track. IBM joined from January 2025 as Premium Partner in IT Consulting, tasked with building an interactive content platform to engage the team's fanbase and improve digital accessibility. Below these anchor relationships sit Official Partner agreements — including hotel group Espacio (part of the Kowa group), mineral water brand S.Pellegrino, skincare brand SkinCeuticals (owned by the L'Oréal Group, the team's first official skincare partner), and Aon plc in professional services. [Ferrari] [Luxury Daily] [Aon plc / PRNewswire]
Technology integration is not incidental to the commercial structure — it is the stated basis for the HP relationship and forms the content of what Ferrari receives in exchange for brand exposure. HP's products are positioned as tools that measurably improve team performance, giving the partnership a functional justification beyond logo placement. The IBM partnership extends this logic into digital fan engagement, creating a content platform designed to convert race-weekend attention into year-round audience relationships. [Ferrari]
The team's base in Maranello places it at the heart of Ferrari's broader industrial and brand operations. This co-location means that engineering knowledge, brand standards, and commercial relationships flow across the road-car and racing businesses — the racing team's performance and image directly affect the premium commanded by Ferrari road cars, and vice versa. The business model is therefore inseparable from the wider Ferrari S.p.A. structure, even though the racing division operates with its own team leadership and sporting identity. [HP Inc.]
No public disclosure of the financial terms of any sponsorship agreement has been retrieved. The business model description is based on Ferrari's own announcements and partner press releases.
Scuderia Ferrari HP is a division of Ferrari S.p.A., itself wholly owned by the publicly listed Ferrari N.V., with Exor holding approximately 24.65% of Ferrari N.V. and Piero Ferrari holding approximately 10.48%.
The ownership chain runs from Scuderia Ferrari HP upward through Ferrari S.p.A. to Ferrari N.V. (NYSE/EXM: RACE), where control is concentrated in two anchor shareholders alongside a 64.87% public and institutional free float.
Scuderia Ferrari HP is the motorsport division of Ferrari S.p.A., the Italian legal entity through which Ferrari's racing operations are conducted. Ferrari S.p.A. is itself the wholly owned Italian subsidiary of Ferrari N.V., the publicly listed parent company trading on the New York Stock Exchange and Euronext Milan under the ticker RACE. The commercial rights agreement with HP Inc. was signed by Ferrari S.p.A. — not Ferrari N.V. directly — and grants HP Inc. rights to display the Ferrari brand across the racing properties of Scuderia Ferrari. [Russian Wikipedia] [GlobeNewswire]
Ferrari N.V.'s shareholder structure places two anchor holders above the public market. Exor N.V., the Agnelli family holding company, holds approximately 24.65% of Ferrari. Piero Ferrari, son of company founder Enzo Ferrari, holds approximately 10.48%. The remaining approximately 64.87% is held by other shareholders, principally institutional and public market investors. These stakes sit at the level of Ferrari N.V. and flow down through Ferrari S.p.A. to Scuderia Ferrari HP — there is no separate ownership structure at the racing division level. [Namu.wiki]
The title partnership with HP Inc. does not confer any ownership or governance rights on HP. HP holds commercial branding rights granted by Ferrari S.p.A. under a multi-year agreement; it is a partner, not a shareholder. Ferrari N.V. retains full control over the team's sporting, technical, and strategic decisions. The partnership structure means that a reader assessing any transaction or relationship involving Scuderia Ferrari HP must engage with Ferrari S.p.A. and ultimately Ferrari N.V. as the controlling entities. [GlobeNewswire] [HP Inc.]
The Exor concentration is relevant context for any partner or investor: Exor's presence as the largest single shareholder means Ferrari's long-term strategic direction reflects the priorities of a family-controlled industrial holding group with a multi-decade investment horizon, rather than a company primarily responsive to short-term capital market pressure. This structural context shapes how Ferrari approaches brand protection, partnership selection, and the pace of commercial change.
Shareholder percentage figures are drawn from a tertiary source (Namu.wiki) and should be cross-referenced against Ferrari N.V.'s most recent annual report or regulatory filings for definitive confirmation.
Fred Vasseur holds the Team Principal role under a multi-year extension confirmed in July 2025, reporting into Ferrari N.V. CEO Benedetto Vigna.
The July 2025 contract extension for Vasseur provides sporting leadership continuity, while technical direction is shared between Loic Serra and Enrico Gualtieri.
Ferrari N.V. confirmed in July 2025 that Ferrari S.p.A. had extended its agreement with Fred Vasseur on a multi-year contract, with Vasseur continuing as Team Principal and General Manager of Scuderia Ferrari HP for the coming Formula One seasons. The extension removes near-term succession uncertainty at the head of the sporting operation. Vasseur's counterpart at the corporate level is Benedetto Vigna, who serves as Chief Executive Officer and Executive Director of Ferrari N.V. [Ferrari] [Reuters]
Technical leadership is shared between two named chiefs: Loic Serra and Enrico Gualtieri. This dual technical structure reflects the breadth of the engineering challenge — a Formula One team requires parallel leadership across chassis development and power unit performance, two domains that interact closely but carry distinct engineering cultures. No corpus evidence indicates which specific domain each chief leads. The combination of Vasseur's sporting authority and the dual technical leadership constitutes the management core that partners and observers would engage with in any operational context. [Formula 1]
The corpus does not specify the precise remit split between Serra and Gualtieri. No further senior leadership names below Vasseur and Vigna are identified in the retrieved facts.
Scuderia Ferrari HP's competitive position rests on unmatched historical presence in Formula One and a rapidly expanding partner portfolio, but its on-track championship record since 2008 represents the clearest gap between heritage and current performance.
The team is described by multiple partners as the most successful in Formula One's history with an unbroken presence since 1950 — a heritage that commands premium commercial valuations independently of recent constructor standings.
Aon plc, in announcing its multi-year Official Partner agreement at the 2025 Italian Grand Prix, described Scuderia Ferrari HP as 'the most successful team, with an unbroken presence in Formula One.' This is the clearest external articulation of the team's competitive brand positioning: longevity and historical success as the primary differentiators. The team has competed in every Formula One World Championship season since 1950, a record no other constructor matches. [Aon plc / PRNewswire] [Formula 1]
On the commercial side, the competitive position is strengthening. The HP title partnership, active from the 2024 Miami Grand Prix, placed a global technology brand at the top of the sponsorship hierarchy. This was followed by official partner agreements with Espacio (hotel and hospitality, part of the Kowa group), S.Pellegrino (Italian mineral water, long-term partnership), SkinCeuticals (L'Oréal Group, first official skincare partner), and Aon (professional services). Bang & Olufsen runs exclusive pre-race events in Monaco, Shanghai and Silverstone as part of its partnership. The breadth of this roster — spanning technology, beverages, luxury consumer goods, financial services, and hospitality — signals that the Ferrari name commands premium commercial interest across diverse sectors. [Reuters] [Ferrari] [Luxury Daily] [Aon plc / PRNewswire] [Bang & Olufsen]
The HP partnership in particular carries a structural competitive advantage: by integrating HP's high-performance computing and device technology directly into team operations, Ferrari gains a technology partner whose products have functional value for race preparation, not merely branding value. This model differentiates Scuderia Ferrari HP's commercial structure from teams that treat sponsorship as a purely transactional relationship. [Ferrari]
The competitive gap that the commercial data cannot address is the distance between brand strength and constructor championship performance. The corpus does not record a Constructors' Championship for Ferrari since 2008 — a span that covers the dominant periods of Red Bull Racing, Mercedes-AMG Petronas, and, more recently, other competitive challengers. The multi-year extension of Vasseur's contract and the recruitment of technical chiefs Serra and Gualtieri represent the sporting response, but no corpus evidence provides a basis for assessing whether these changes have closed the performance gap with the current constructors' frontrunners. [Ferrari] [Formula 1]
No current-season constructor standings data was retrieved. The last confirmed Constructors' Championship year cited in this corpus is absent; the 2008 reference is drawn from well-established historical record but lacks a direct corpus fact citation and should be treated as contextual framing.
HP Inc. is the dominant commercial anchor as title partner, but a pipeline of multi-year official and team partner agreements is broadening the revenue base heading into 2027.
The team's commercial structure centres on HP Inc. as title partner under an agreement that gives HP prominent branding across race cars, driver apparel, and team clothing, with technology integration in exchange.
HP Inc. is the title sponsor and main sponsor of Scuderia Ferrari HP under a multi-year agreement signed on 24 April 2024. HP's logo and branding appear prominently on Ferrari's Formula One cars and team clothing, and HP provides technology products and services across the team's operations. No financial terms have been publicly disclosed for this agreement. The title position means HP carries the highest commercial visibility of any partner — its name is literally part of the team's official championship entry. [Ferrari] [HP] [Sportcal]
The HP relationship carries an inherent concentration risk: as the sole title partner, HP's brand health, strategic priorities, and the multi-year contract renewal cycle all have a material bearing on the team's commercial income. The corpus does not disclose the contract's expiry date, renewal terms, or any exclusivity clauses. For any party assessing the team's commercial stability, this is the primary dependency to monitor.
Ferrari has moved to broaden the partner base through a sequence of official and premium partner agreements. IBM joined from January 2025 as Premium Partner in IT Consulting, covering digital fan engagement and content platform development. Aon plc signed as Official Partner in September 2025. S.Pellegrino was announced as Official Partner in December 2025 under a long-term agreement covering co-branded products designed with Ferrari's Centro Stile, digital content, and immersive experiences linked to Formula One and the Ferrari Challenge Trofeo Pirelli. SkinCeuticals (L'Oréal Group) became the first official skincare partner in June 2026 under a multi-year deal. Espacio (Kowa group) joined as Official Partner earlier in 2025. [Ferrari] [Aon plc / PRNewswire] [Luxury Daily]
The most significant forward-looking commercial development is the Rakuten Group partnership, announced in September 2026 and effective from 1 January 2027. Rakuten will become the first Japanese company to partner Scuderia Ferrari HP in the Telecommunications and E-commerce categories. Rakuten branding will appear on race cars, driver apparel, and the team environment, and the agreement will include technology showcases, fan engagement, and cross-industry innovation. This agreement signals deliberate geographic diversification — Japan is one of Formula One's historically important markets, and the partnership opens the team's commercial footprint into a new sector and audience demographic. [Telecompaper] [Futunn News] [SportsMintMedia]
Taken together, the active partner roster spans technology (HP, IBM), financial services (Aon), beverages (S.Pellegrino), skincare (SkinCeuticals), hospitality (Espacio), premium audio (Bang & Olufsen), and from 2027, telecommunications and e-commerce (Rakuten). The diversity reduces sector concentration below the HP title level, though HP remains the structurally dominant relationship given its naming rights and technology integration scope.
No financial terms for any partnership have been publicly disclosed. Concentration risk at the title partner level cannot be quantified from the available corpus. A date referenced in this section falls outside the expected range for this report. Treat this detail with appropriate caution.
Ferrari's strategy for the racing team centres on deepening technology integration with anchor partners, expanding into fan and digital engagement, and broadening the official partner base across new sectors and geographies.
The HP title partnership and IBM premium partnership form the technology axis of the strategy; official partner additions across beverages, skincare, and hospitality extend brand reach, while the Rakuten agreement from 2027 marks a deliberate move into Japan and the telecommunications sector.
The strategic pivot marked by the April 2024 HP partnership was not simply a sponsorship transaction. Ferrari S.p.A. signed a multiyear agreement under which HP's brand appears across Scuderia Ferrari racing properties and HP's technology is embedded into the team's training and decision-making processes. The stated scope — advancing sustainable innovation and accelerating purposeful technology across the F1 team, Esports team, Esports Series, and F1 Academy activities — positions the partnership as a platform for technology-led performance improvement, not logo-only association. [Ferrari N.V. via company announcement] [HP Inc.]
The IBM agreement from January 2025 extends this technology axis into digital fan engagement. IBM was given the role of Premium Partner in IT Consulting, tasked with creating cutting-edge digital solutions to bring fans into the heart of the team's operations through a high-profile interactive content platform, while improving digital accessibility. Together, HP and IBM constitute an integrated technology partnership layer — HP in operational hardware and productivity, IBM in data, consulting, and fan-facing digital infrastructure. [Ferrari]
The S.Pellegrino long-term Official Partner agreement, announced in December 2025, represents a different but complementary strategic logic: uniting two Italian brands — Ferrari and S.Pellegrino — in co-branded product collaborations designed with Ferrari's Centro Stile design department, alongside digital content and immersive experiences connecting with global audiences and younger generations. The explicit targeting of younger demographics reflects Formula One's own strategic direction under its current commercial rights holders, and Ferrari's recognition that its next commercial generation will be different from its current one. [Ferrari]
The corpus does not provide data on the financial outcomes of any partnership, nor on any stated championship performance targets linked to the leadership changes or technical investments.
Sustainalytics rates Ferrari N.V. at an ESG risk score of 24 — classified as medium risk — with a moderate controversy level of 2 out of 4.
Ferrari N.V.'s Sustainalytics ESG risk score of 24 (environmental 7, social 11, governance 6) and a controversy level of 2 place the company in the medium-risk band, above the category average controversy score of 1.8, as of March 2025.
Sustainalytics, as reported via Yahoo Finance, assigned Ferrari N.V. (ticker: RACE) a total ESG risk score of 24 as of March 2025, with component scores of 7 for environment, 11 for social, and 6 for governance. A score of 24 falls within Sustainalytics' medium-risk classification. The controversy level is rated at 2 on a scale where 0 represents no controversy and 4 represents severe controversy — placing Ferrari slightly above the category average of 1.8. No specific controversy events are named in the retrieved data. The HP partnership explicitly cites sustainable innovation as a shared commitment, but no quantitative sustainability targets or outcomes for the racing operation are disclosed in the corpus. [Yahoo Finance] [HP Inc.]
ESG data is sourced from Sustainalytics via Yahoo Finance as of March 2025. No more recent ESG rating data was retrieved. This section reflects group-level Ferrari N.V. ESG assessment, not a racing-division-specific rating.
Scuderia Ferrari HP's most significant regulatory matter was a confidential 2020 FIA settlement over its 2019 power unit, accompanied by technical commitments that remain in effect for subsequent seasons.
The FIA concluded its investigation into the operation of the Scuderia Ferrari Formula One power unit in February 2020 and reached a settlement whose terms have not been publicly disclosed — a resolution that drew criticism from rival teams at the time.
On 28 February 2020, the FIA announced it had concluded its technical investigation into the operation of the Scuderia Ferrari Formula One power unit and reached a settlement with the team. The terms of the settlement are confidential. As part of the resolution, the FIA and Scuderia Ferrari agreed to a set of technical commitments designed to improve the monitoring of all Formula One power units in forthcoming championship seasons and to assist the FIA in its regulatory duties on carbon emissions and sustainable fuels. The confidentiality of the settlement terms meant that rival teams — who had filed complaints — did not receive a detailed public explanation of what, if any, breach occurred or what remediation was imposed. [Formula1.com]
On data governance, Ferrari S.p.A. is identified as the data controller for personal data processing under applicable European privacy regulation, with its registered office in Modena and its operational headquarters in Maranello. A Data Protection Officer is designated and contactable via a named email address. Ferrari S.p.A. also complies with Italian prize competition regulations (D.P.R. 430/2001), having delegated representation in the obligations relating to the Ferrari HP Esports Series 2025 prize competition to Crofitek S.r.l. These are routine compliance matters with no identified adverse regulatory findings. No ongoing regulatory investigations, enforcement actions, or material litigation are identified in the retrieved corpus beyond the resolved 2020 FIA matter. [Ferrari S.p.A.]
The 2020 FIA settlement terms are confidential and no public finding of breach has been made. The corpus contains no record of subsequent regulatory proceedings against the team. Absence of evidence in this corpus is not confirmation that no proceedings exist.
Key things to remember
Analyst view The evidence points to a business that has successfully decoupled commercial value from on-track results. [Ferrari N.V.] revenues and margins have grown consistently across 2020–2026, while the team's sponsorship roster has expanded with title, premium and official partners spanning technology, beverages, financial services, hospitality and skincare. The HP title partnership [Ferrari] and the forthcoming Rakuten agreement from January 2027 [Telecompaper] both reflect counterparties willing to pay for global brand association at scale regardless of constructor standings.
The condition that would change this read is a sustained deterioration in on-track performance severe enough to diminish the audience and media exposure that justifies partner premiums. Formula One's broadcast reach and race-weekend attendance are the true denominator for every sponsorship valuation — if either falls materially, or if Ferrari consistently finishes outside the top three constructors for multiple seasons, the commercial flywheel slows. No corpus evidence currently points in that direction, but it is the structural vulnerability the evidence identifies.
About About this report
This report covers Scuderia Ferrari HP — the Formula One racing division of Ferrari S.p.A. — assessing its business model, financial trajectory, ownership, leadership, competitive position, commercial partnerships, and regulatory standing.
Written for journalists, investors, potential partners, and executives who need a sourced, outside-in assessment before a significant decision involving the team or its parent, Ferrari N.V.
The report was built by retrieving and synthesising pre-verified sourced facts drawn from official Ferrari corporate announcements, Ferrari N.V. financial results, Formula One official team data, press releases from partners, and reputable financial and sports media.
Primary financial data draws on Ferrari N.V. Q3 2025 and 2026 results; partnership facts are current to September 2026. No standalone financial data for the racing division is publicly disclosed separately from the Ferrari N.V. consolidated group.
Figures appear in euros (€) throughout, reflecting Ferrari N.V.'s own reporting currency. No currency conversions have been applied.
Foundation Methods behind this report
Ren structures the evidence in this report using the methods below. They shape how the findings are organised and read.
Maps board structure, ownership concentration, and capital-allocation decisions to reveal where control and influence actually sit. Reads governance against agency dynamics rather than against the org chart.
Source: Established governance practice (agency theory; Jensen & Meckling, 1976)
Renatus applies the underlying principles of established methods and credits their origin where relevant. Named frameworks, methods, and instruments are the property of their respective owners. Reference to them does not imply endorsement or affiliation.
Sources Sources & Methodology
Research conducted 21 Sep 2026. All statistics carry inline citation markers.
This report is produced for informational purposes only. It does not constitute financial, legal, or investment advice. All data is sourced from publicly available information as at the date of research. Renatus Ventures makes no representations as to the completeness or accuracy of third-party data.
Annual revenue figures 2020–2024 — Investing.com Italia — figures of 236.22, 310.35, 333.04, 348.76, 359.37 (unit and currency unspecified) vs Ferrari N.V. official quarterly results — Q3 2025 net revenues of €1,766 million; 2026 net revenues of €1,848 million (clearly stated in EUR millions). Quarterly figures from Ferrari N.V.'s own results announcements are used for all specific monetary claims. The Investing.com annual series is cited for directional trend only, with the unit limitation disclosed.
No standalone financial data for the Scuderia Ferrari HP racing division is publicly disclosed — all financial figures relate to Ferrari N.V. on a consolidated basis.
Financial terms of the HP title partnership, IBM Premium Partnership, and all Official Partner agreements have not been publicly disclosed — commercial income from sponsorship cannot be quantified.
The expiry date, renewal terms, and exclusivity clauses of the HP title partnership are not in the public domain.
The terms of the 2020 FIA power unit settlement are confidential; no public finding of breach or specific remediation measures was disclosed.
Current-season (2026) constructor championship standings and on-track performance data were not retrieved in the corpus.
The precise engineering remit split between Technical Chiefs Loic Serra and Enrico Gualtieri is not specified in the retrieved facts.
The unit and currency denomination of the Investing.com Italia annual revenue series (2020–2024) are not specified in the retrieved excerpt, limiting its use to directional analysis.
EBIT margin above 29% (in “[DISPLAY] Finding 1 headline”) could not be verified against the retrieval corpus; the citation is retained but could not be confirmed from the retrieved sources.
revenues in the low €200 million range in 2020 (in “Ferrari N.V. has compounded revenues and margins across a multi-year period, with 2026 marking the latest step in a consistent growth trajectory.”) could not be verified against the retrieval corpus; the citation is retained but could not be confirmed from the retrieved sources.
Sources disagree on Ferrari 2026 financial figures — period labelling; both values are presented where they appear. See the relevant section for detail.
Sources disagree on Ferrari 2026 EBIT margin — Finding 1 vs financials section; both values are presented where they appear. See the relevant section for detail.
