Ferrari NVRACE +0.53%94 Net-Net Working Capital is $-22.67 as of Mar. 2026. GuruFocus rates RACE with a GF Score™ of 94/100 and a GF Value™ of $503.59 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 385 Vehicles & Parts companies, Ferrari NV ranks worse than 259740% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Ferrari NV's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-22.67.
The industry rank for Ferrari NV's Net-Net Working Capital or its related term are showing as below:
RACE's Price-to-Net-Net-Working-Capital is not ranked *
in the Vehicles & Parts industry.
Industry Median: 8.24 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Ferrari NV (NYSE:RACE) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Ferrari NV Net-Net Working Capital Related Terms
Ferrari NV Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Ferrari NV's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
RACE vs TSLA, GM, F: Net-Net Working Capital Comparison
For the Auto Manufacturers subindustry, Ferrari NV's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ferrari NV Price-to-Net-Net-Working-Capital vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Ferrari NV's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Ferrari NV's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $-22.67 mean?
Ferrari NV (RACE) has a Net-Net Working Capital of $-22.67 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Ferrari NV According to the industry distribution chart, Ferrari NV ranks #999999 out of 385 companies in the Vehicles & Parts industry.
Is Ferrari NV's Net-Net Working Capital too high?
Ferrari NV's current Net-Net Working Capital is $-22.67. Based on the distribution chart, Ferrari NV ranks #999999 out of 385 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Ferrari NV has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ferrari NV's Net-Net Working Capital compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Ferrari NV ranks #999999 out of 385 companies for Net-Net Working Capital. This places Ferrari NV in the lower half of its industry. The industry median Net-Net Working Capital is 8.24. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Vehicles & Parts company?
The median Net-Net Working Capital among Vehicles & Parts companies is 8.24, based on 385 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Ferrari NV For the Vehicles & Parts industry, the median Net-Net Working Capital is 8.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ferrari NV's current Net-Net Working Capital is $-22.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ferrari NV stock overvalued right now?
Based on GuruFocus' analysis, Ferrari NV (RACE) is currently considered Modestly Undervalued. The stock's GF Value™ is $503.59, compared to a current price of $376.64 — trading 25.2% below its estimated fair value. The current Net-Net Working Capital is $-22.67. Ferrari NV's overall GF Score™ is 94/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Ferrari NV (RACE), the current Net-Net Working Capital is $-22.67 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ferrari NV (RACE) Overvalued in 2026?
Based on GuruFocus' analysis, Ferrari NV stock appears to be undervalued.
The current stock price of $376.64 is trading 25.2% below its estimated GF Value™ of $503.59.
GuruFocus considers Ferrari NV to be Modestly Undervalued.
Key valuation signals for RACE:
Net-Net Working Capital: $-22.67
GF Value™: $503.59 vs. price of $376.64 (25.2% below fair value)
No single metric tells the full story. See the RACE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2025, the company sold 13,640 vehicles at an average price over EUR 520,000 with more than 80% of its vehicles being sold to existing Ferrari clients. Eighty-four percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2025, the Europe, Middle East, and Africa region accounted for 49% of revenue, the Americas was 32%, mainland China, Hong Kong, and Taiwan was 7%, and the rest of Asia was 12%.
94GF Score
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