Ferrari vs Lamborghini: Revenue, Profit and Business Model
Ferrari reported ~$8.1B of revenue in FY2025 and ~$1.8B of net income. Lamborghini reported ~$3.6B of revenue in FY2025 and — of net income.
Latest financial snapshot
Ferrari
- Latest revenue
- ~$8.1B (FY2025)
- Net income
- ~$1.8B
- Net margin
- 22.3%
- Revenue growth
- +9.7% a year, FY2016–FY2025
Lamborghini
- Latest revenue
- ~$3.6B (FY2025)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +9.7% a year, FY2023–FY2025
Financial summary
Ferrari
Ferrari grew net revenues from ~$3.5 billion (€3.1 billion) in 2016 to ~$8.08 billion (€7.15 billion) in 2025 while shipments rose only from about 8,000 to 13,640 cars. In 2025 revenue rose 7% (8% at constant currency), EBIT margin improved 120 basis points to 29.5%, adjusted EBITDA reached ~$3.13 billion (€2.77 billion) (38.8% margin) and industrial free cash flow exceeded ~$1.69 billion (€1.5 billion). In Q2 2026 net revenues rose 8.4% to ~$2.19 billion (€1.94 billion), EBITDA hit ~$853 million (€755 million) (39.0% margin) and EBIT ~$684 million (€605 million) (31.2%), and management raised 2026 guidance to roughly $8.59 billion (€7.6 billion) of revenue and adjusted EBITDA of at least ~$3.36 billion (€2.97 billion).
Lamborghini
Lamborghini went bankrupt in 1978 and changed owners several times before Audi bought it in 1998. Under Volkswagen Group ownership it scaled from a few hundred cars a year to more than 10,000. Revenue reached ~$3.01 billion (EUR 2.66 billion) in 2023, ~$3.49 billion (EUR 3.09 billion) in 2024, and a record ~$3.62 billion (EUR 3.20 billion) in 2025. Operating profit peaked at ~$944 million (EUR 835 million) in 2024 and fell to ~$868 million (EUR 768 million) in 2025 as U.S. tariffs and currency effects cut the return on sales to 24%. In H1 2026, revenue rose 7.4% to ~$1.97 billion (EUR 1.74 billion), but operating profit fell to ~$446 million (EUR 395 million) (22.7% margin) from ~$487 million (EUR 431 million) a year earlier.
Revenue and profit by year
Ferrari
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$8.1B | ~$1.8B | 22.3% | +7.0% | Source |
| FY2024 | ~$7.5B | ~$1.7B | 22.8% | +11.8% | Source |
| FY2023 | ~$6.7B | ~$1.4B | 21.0% | +17.2% | Source |
| FY2022 | ~$5.8B | ~$1.1B | 18.3% | +19.3% | Source |
| FY2021 | ~$4.8B | ~$938.8M | 19.5% | +23.4% | Source |
| FY2020 | ~$3.9B | ~$686.8M | 17.6% | -8.1% | Source |
| FY2019 | ~$4.3B | ~$786.3M | 18.5% | +10.1% | Source |
| FY2018 | ~$3.9B | ~$886.7M | 22.9% | +0.1% | Source |
| FY2017 | ~$3.9B | ~$605M | 15.7% | +10.0% | Source |
| FY2016 | ~$3.5B | ~$450.6M | 12.8% | — | Source |
Lamborghini
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$3.6B | — | 0.0% | +3.6% | Source |
| FY2024 | ~$3.5B | — | 0.0% | +16.2% | Source |
| FY2023 | ~$3B | — | 0.0% | — | Source |
Where the revenue comes from
Ferrari
No segment breakdown is published.
Lamborghini
- Vehicle Sales
Not disclosed
Sales of the Urus SE, Temerario, and Revuelto plug-in hybrids plus limited-edition Few-Off models.
- Ad Personam Personalization
Embedded in vehicle sales
Bespoke colors, materials, trims, stitching, and special configurations that raise transaction value and customer attachment.
- Aftersales, Parts, and Service
Not disclosed
Maintenance, replacement parts, accessories, and dealer-supported service revenue across the installed owner base.
- Merchandise, Licensing, and Experiences
Not disclosed
Brand licensing, apparel, collectibles, driving experiences, events, and lifestyle products that monetize the Lamborghini identity beyond car sales.
Business model and strategy
Ferrari
How it makes money
Ferrari earns most of its money selling cars and spare parts (about 85% of 2025 net revenues), with the rest coming from sponsorship, commercial and brand income (Formula 1 sponsorships, F1 prize money, lifestyle and licensing) plus a small engines line.
Growth strategy
Ferrari's strategy is 'multi-energy': it sells combustion, plug-in hybrid and now fully electric cars side by side, built in-house at the e-building in Maranello that opened in June 2024. Growth comes from mix (hypercars such as the F80, the Purosangue and special series), personalization, sponsorship and lifestyle income, rather than from big volume increases.
Competitive advantage
Ferrari's absolute, unassailable competitive advantage is its large, mythological brand equity, completely tied to its history in Formula 1 racing. Since 1947, Ferrari has competed in almost every single Formula 1 race. The 'Prancing Horse' logo possesses a deep, emotional, almost religious significance for automotive enthusiasts globally.
Lamborghini
How it makes money
Lamborghini makes money by building a small number of very expensive cars and raising the value of each one. The range has three model lines, all plug-in hybrids since 2025: the Urus SE super SUV (the volume model), the Temerario twin-turbo V8 supercar that replaced the Huracan, and the Revuelto V12 flagship. Ad Personam personalization adds high-margin options;
Growth strategy
Under the Direzione Cor Tauri plan announced in 2021 (more than $1.69 billion (EUR 1.5 billion) of investment), Lamborghini hybridized its whole range: the Revuelto in 2023, then the Urus SE and Temerario in 2024. In February 2026 CEO Stephan Winkelmann said the battery-electric Lanzador had been dropped because demand for electric supercars was 'close to zero'. The Lanzador is now planned as a plug-in hybrid.
Competitive advantage
Lamborghini's edge is a distinct brand identity (wedge design, scissor doors, V12 heritage) combined with access to Audi and Volkswagen Group platforms and technology. The Urus shares its MLB Evo architecture with the Porsche Cayenne and Audi Q8, which lets Lamborghini spend its own engineering budget on powertrains, carbon-fiber structures, and design.
Questions about Ferrari vs Lamborghini
Which company has higher revenue — Ferrari N.V. or Automobili Lamborghini S.p.A.?
Ferrari N.V. reported ~$8.1B (FY2025), while Automobili Lamborghini S.p.A. reported ~$3.6B (FY2025). By last reported revenue, Ferrari N.V. is the larger business, with Automobili Lamborghini S.p.A. reporting a smaller revenue base.
How do Ferrari N.V. and Automobili Lamborghini S.p.A. make money?
Ferrari N.V. and Automobili Lamborghini S.p.A. generate revenue in fundamentally different ways. Ferrari N.V.: Ferrari earns most of its money selling cars and spare parts (about 85% of 2025 net revenues), with the rest coming from sponsorship, commercial and brand income (Formula 1 sponsorships, F1 prize money, lifestyle and licensing) plus a small engines line. Automobili Lamborghini S.p.A.: Lamborghini makes money by building a small number of very expensive cars and raising the value of each one.
Is Ferrari N.V. bigger than Automobili Lamborghini S.p.A.?
By last reported revenue, Ferrari N.V. (~$8.1B (FY2025)) is the larger company compared to Automobili Lamborghini S.p.A. (~$3.6B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Ferrari vs Lamborghini overview