Ferrari vs Xpeng
Xpeng is the larger business, with $10.68bn of revenue in fiscal 2025 against $8.08bn for Ferrari (1.3 times as much). Xpeng grew faster (88.0% against 11.8%). Ferrari kept more of each dollar of sales as profit: a net margin of 22.3% against -1.5%. Xpeng carries less debt relative to equity (41.8% against 73.8%).
| Latest fiscal year | FerrariRACE, 2025 | XpengXPEV, 2025 |
|---|---|---|
| Revenue | $8.08bn | $10.68bn |
| Revenue growth | 11.8% | 88.0% |
| Net income | $1.81bn | −$159m |
| Operating margin | 29.5% | -3.6% |
| Net margin | 22.3% | -1.5% |
| Return on equity | 43.8% | -3.7% |
| Free cash flow | $2.11bn | $710m |
| Cash | $1.72bn | $2.48bn |
| Total debt | $3.38bn | $1.82bn |
| Debt to equity | 73.8% | 41.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $74.13bn | $9.21bn |
| Price vs our value range | Within our value range | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |