Ferrari N.V. (RACE) Bull Case Theory: A Luxury Compounder with Resilient Intrinsic Value

Ferrari N.V. (RACE) is a luxury performance sports car manufacturer with a strong business model driven by control and scarcity. Despite recent multiple compression, the company's fundamentals remain strong, with high margins, raised guidance, and consistent execution across product and financial metrics. A recent selloff reflects market reactions to Ferrari's 2030 Capital Markets Day, but the company's strategic moves protect long-term brand equity and client preferences. With a disciplined capital allocation policy and attractive valuation, Ferrari is a rare high-margin franchise with a resilient intrinsic value.