Ferrari N.V. completed the eighth tranche of its €2 billion share‑buyback program, purchasing 5,981,331 shares on the NYSE and EXM for a total consideration of €2,002,569,269.82. The tranche, which closed on December 15, 2025, was executed one year ahead of the target set during the company’s 2022 Capital Markets Day.
The company also announced a new multi‑year share‑buyback program valued at approximately €3.5 billion, expected to be completed by 2030. The first tranche of the new program, capped at €250 million, will begin on January 5, 2026 and end no later than May 15, 2026. The tranche will be funded through available cash and will consist of a €200 million non‑discretionary agreement on the EXM market and a €50 million mandate on the NYSE.
Ferrari’s decision to accelerate the €2 billion program and launch a new buyback is underpinned by strong financial performance in the third quarter of 2025. Revenue rose 7.4% to €1.77 billion, driven by a 7.6% increase in operating profit and upward revisions to 2025 guidance. The company’s adjusted EPS of €2.14 beat analyst expectations of €2.06 by €0.08, a 3.9% beat, largely due to disciplined cost management and a favorable product mix that increased the proportion of high‑margin vehicles and accessories.
CEO Benedetto Vigna highlighted the company’s confidence in its cash‑flow generation, noting that the buyback program “is a clear signal of our commitment to returning capital to shareholders while maintaining the flexibility to support future growth and equity‑incentive plans.” Vigna’s remarks follow the company’s Q3 2025 earnings release, where he emphasized the strength of the product mix and the company’s ability to sustain profitability amid a competitive landscape.
Market reaction to the announcement was tempered by analyst concerns over Ferrari’s upcoming model rollout and delivery forecasts. Several analysts downgraded the stock in early December, citing a slower‑than‑expected launch of the F80 and reduced 2026 delivery projections. Despite these headwinds, the share‑buyback program was viewed as a positive signal of financial strength and a tool to offset dilution from employee stock options.
The new €3.5 billion program positions Ferrari to continue returning value to shareholders while preserving capital for strategic initiatives. By committing to a disciplined buyback schedule, the company signals confidence in its long‑term growth prospects and its ability to generate excess cash flow, reinforcing its competitive position in the ultra‑luxury automotive segment.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.