# Ferrari Cash flow

NYSE: RACE · Reporting currency: EUR

[Interactive page](https://beanvest.com/stock/race/cash-flow) · [JSON with these options](https://beanvest.com/stock/race/cash-flow.json?range=5Y&deductSbc=false&limit=200&offset=0&frequency=yearly&wacc=9.4) · [Raw filing inputs](https://beanvest.com/api/v2/financials/race)

Frequency: yearly. Newest first. Retrieved: 2026-09-28T16:58:47.934Z.
Coverage: 2017-12-31 to 2025-12-31. Rows 1–9 of 9.
Snapshot checked: 2026-10-18T16:48:35.628Z. Last validated: 2026-10-18T16:48:35.628Z.
SBC deduction: disabled.

## Definitions

- **Operating cash flow** (`ocf`, EUR_millions): Reported net cash provided by or used in operating activities.
- **Capital expenditures** (`capex`, EUR_millions): Reported cash capital investment. Uses purchases of property, plant and equipment where disclosed; otherwise purchases of productive assets, which can also include software and intangibles. Excludes acquisitions and noncash lease additions.
- **Free cash flow** (`fcf`, EUR_millions): Operating cash flow − reported cash capital investment. PPE purchases are preferred; the productive-assets fallback also includes software and intangibles. Reflects the SBC option and can differ from issuer-defined FCF.
- **Stock-based compensation** (`sbc`, EUR_millions): Reported share-based compensation addback in the cash-flow statement. Missing disclosure is not treated as zero.
- **SBC / free cash flow** (`sbc_fcf`, percent): Reported share-based compensation / (operating cash flow − cash capital investment) × 100, for the same fiscal period. Always uses FCF before SBC deduction. Zero or negative FCF is undefined; values above 100% are retained.
- **SBC / operating cash flow** (`sbc_ocf`, percent): Reported share-based compensation / reported operating cash flow × 100, for the same fiscal period. Zero or negative operating cash flow is undefined. Unaffected by the SBC deduction scenario.
- **Software & intangible investment** (`software_capex`, EUR_millions): Separately tagged payments for capitalized software under US GAAP, or purchases of intangible assets under IFRS. This optional disclosure is not inferred from total capex or deducted a second time from FCF.
- **Diluted EPS** (`eps`, EUR_per_share): Reported diluted earnings per share, normalized for recorded subsequent stock splits. Quarterly EPS is never subtracted from annual or YTD EPS.

## Values

| Period | End date | Operating cash flow (EUR_millions) | Capital expenditures (EUR_millions) | Free cash flow (EUR_millions) | Stock-based compensation (EUR_millions) | SBC / free cash flow (percent) | SBC / operating cash flow (percent) | Software & intangible investment (EUR_millions) | Diluted EPS (EUR_per_share) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2025 | 2025-12-31 | 2349.306 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 8.96 |
| 2024 | 2024-12-31 | 1926.656 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 8.46 |
| 2023 | 2023-12-31 | 1716.637 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 6.9 |
| 2022 | 2022-12-31 | 1403.34 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 5.09 |
| 2021 | 2021-12-31 | 1282.726 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 4.5 |
| 2020 | 2020-12-31 | 838.211 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 3.28 |
| 2019 | 2019-12-31 | 1306.093 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 3.71 |
| 2018 | 2018-12-31 | 934.041 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 4.14 |
| 2017 | 2017-12-31 | 662.799 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 2.82 |

## Capital allocation

Each reported nonnegative cash use / sum of available tracked nonnegative cash uses × 100. Missing categories are omitted, never set to zero. This is the composition of tracked uses, not a complete cash-flow reconciliation or a percentage of OCF. SBC is noncash and excluded. Negative amounts are excluded as reversals or net receipts; they are not converted to spending.
Amounts: EUR_millions. Shares: %. Uses the same fiscal periods, date filter and pagination as the values above.

- **Capex**: Reported cash capital investment, preferring PPE purchases. Productive-assets disclosures can also include software and intangibles.
- **Acquisitions**: Cash paid to acquire businesses, net of cash acquired. Excludes purchases of financial investments.
- **Buybacks**: Reported cash payments to repurchase common stock. Separately disclosed employee-tax settlements are not added.
- **Dividends**: Reported cash dividend payments, preferring the aggregate over the common-stock alternative. Includes dividend equivalents when part of that reported concept.
- **Debt repayments**: Reported gross debt repayments, preferring an aggregate over long-term or convertible-debt components. These alternatives are never added. The selected concept defines the scope; net debt proceeds and lease payments are excluded.

| Period | Tracked uses (EUR_millions) | Capex (amount; %) | Acquisitions (amount; %) | Buybacks (amount; %) | Dividends (amount; %) | Debt repayments (amount; %) | Omitted categories |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 2025 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2024 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2023 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2022 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2021 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2020 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2019 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2018 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |
| 2017 | Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | Unavailable; Unavailable | capex, acquisitions, buybacks, dividends, debt_repayments |

## Unavailable values

- capex: The reported inputs required for this metric are unavailable in the extracted statements for this period.
- fcf: The reported inputs required for this metric are unavailable in the extracted statements for this period.
- sbc: The reported inputs required for this metric are unavailable in the extracted statements for this period.
- sbc_fcf: The reported inputs required for this metric are unavailable in the extracted statements for this period.
- sbc_ocf: The reported inputs required for this metric are unavailable in the extracted statements for this period.
- software_capex: Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.

## Sources

- [sec-0001648416-b23a8ad9a982](https://data.sec.gov/api/xbrl/companyfacts/CIK0001648416.json) · Retrieved 2026-09-28T07:37:41.538Z · SHA-256 b23a8ad9a98210c70dd3542d448e70d76d12c9e45e3930eedf056d8384ea4f0d
- [filing-5bca3014ac1fc93d](https://www.sec.gov/Archives/edgar/data/1648416/000164841623000093/ferrarinvinterimreport-033.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 5bca3014ac1fc93d11109b21cac779fc3b7ec3218dc7ab5899539fcdf042bb37
- [filing-92ab9e03960d649e](https://www.sec.gov/Archives/edgar/data/1648416/000164841623000158/ferrarinvinterimreport-063.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 92ab9e03960d649eec2de0b1a48cbb1c41171232e9b18c95071f416919fd240d
- [filing-d71f92c9257e269a](https://www.sec.gov/Archives/edgar/data/1648416/000164841623000196/ferrarinvinterimreport-093.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 d71f92c9257e269a8e38600fd72503286fc775bf339b731bf89e2aba94d39126
- [filing-6cf0c7554fc26ad6](https://www.sec.gov/Archives/edgar/data/1648416/000164841624000088/ferrarinvinterimreport-033.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 6cf0c7554fc26ad61a3853e7e06f9b7d90ed3596c750e945fe77d7ae199ca6a6
- [filing-4339787eed3a8aab](https://www.sec.gov/Archives/edgar/data/1648416/000164841624000155/ferrarinvinterimreport-063.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 4339787eed3a8aab2ed4b40edfd142e179be8cfaa4a7980540134aa06614f247
- [filing-9544ef0ddc872009](https://www.sec.gov/Archives/edgar/data/1648416/000164841624000195/ferrarinvinterimreport-093.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 9544ef0ddc8720091021b1125f0e1a52ce6be83ec168837a0ed44a311b300b24
- [filing-cc345c09129bbb09](https://www.sec.gov/Archives/edgar/data/1648416/000164841625000048/ferrarinvinterimreport-033.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 cc345c09129bbb096d16511b8f45235826b28ab3209b6868855a77f4fa48e73d
- [filing-0cb42a1db3eaea51](https://www.sec.gov/Archives/edgar/data/1648416/000164841625000066/ferrarinvinterimreport-063.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 0cb42a1db3eaea51e3c3df42b68cae30a151f17616ba46b1841f43b7bbffe581
- [filing-73c3846445b27790](https://www.sec.gov/Archives/edgar/data/1648416/000164841625000114/ferrarinvinterimreport-093.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 73c3846445b2779037ad1ea4eb768e0219b86eff3cafc4de018636bd352d2059
- [filing-b44c2252bd652bde](https://www.sec.gov/Archives/edgar/data/1648416/000162828026030266/ferrarinvinterimreport-033.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 b44c2252bd652bdee97f16dd5462011e9e78bb3e92c2e5fbf8e29f6743e89088
- [filing-b934af4a1f56f338](https://www.sec.gov/Archives/edgar/data/1648416/000164841626000107/ferrarinvinterimreport-063.htm) · Retrieved 2026-09-28T01:42:38.032Z · SHA-256 b934af4a1f56f3389375cd733089b0c74830ef3f85ef696b1a862542ae1b5bb1
- [inline-0001648416-853de6d43920](https://www.sec.gov/Archives/edgar/data/1648416/000164841626000024/race-20251231.htm) · Retrieved 2026-10-17T21:46:17.810Z · SHA-256 853de6d43920a7561c464cd2ea85323efd6542a9cb9de13e1667b05e7e1e5e8e
- [inline-0001648416-8757dad07c82](https://www.sec.gov/Archives/edgar/data/1648416/000164841624000032/race-20231231.htm) · Retrieved 2026-10-18T12:12:30.508Z · SHA-256 8757dad07c82649abab1d1158118737feffb547cfea6b960d84d8a3c46e93829

## Data conventions

- Null means an unavailable input or undefined calculation, never zero. Values are unrounded; money and shares are in millions unless a column states otherwise.
- Fiscal periods use actual reporting start/end dates. Annual reported values are not constructed by adding quarterly EPS or weighted share counts. Partial years are labelled.
- FCF uses operating cash flow minus reported cash capital investment, preferring PPE purchases. The productive-assets fallback can also include software and intangibles. Acquisitions and noncash leases are excluded. Deduct SBC is an optional economic-cost scenario; missing SBC remains unavailable.
- SBC / FCF and SBC / OCF compare amounts from the same fiscal period. SBC / FCF always uses FCF before SBC deduction; nonpositive denominators are undefined and values above 100% remain valid.
- Capital allocation percentages describe available tracked cash uses, not all company spending or a fraction of OCF. Missing categories remain null, negative payments are excluded and SBC is noncash. Annual shares use reported annual amounts.
- Valuation uses completed, split-adjusted closes without dividend adjustment and a complete trailing year. Financial bases become eligible after publication; selected facts can contain later restatements. This is not a vintage-filings backtest.
- Mean and median use all valid observations in the selected date range before pagination. Historical pricing labels compare the latest positive value with its own median and do not estimate intrinsic fair value.
- Reporting currencies are retained without conversion. USD market capitalization, where available, is a separate dated Nasdaq snapshot.
- WACC is an editable US industry scenario across history, not a historical company cost of capital. Industry exclusions, missing inputs and pending filings remain explicit.