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Ferretti S.p.A (9638) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$11.3B

FS Ferretti S.p.A 9638 · HK
PriceHK$33.00
Fair ValueHK$50.56
Upside+53.2%
Quality59/100
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Evidence: High Range HK$35.64 – HK$63.12 📤 Share as image

Fair value as of: Jul 3, 2026

From 26 valuation models · updated 18 days ago

Share price −4.1% over the past month.

Price vs Fair Value (12 months)

HK$40.05 HK$17.15 Fair Value HK$50.56 Dec 2024 Jul 2026

12‑month range HK$17.15 – HK$40.05 · fair‑value band HK$35.64 – HK$63.12 · the HK$33.00 price screens below the HK$50.56 fair value. As of Jul 3, 2026.

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Analysis

Ferretti S.p.A (9638) currently trades at HK$33.00, while our model-based Fair Value estimate is HK$50.56, implying the stock looks roughly 53.2% undervalued today. We read business quality at 59/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ferretti S.p.A generated revenue of HK$1.4B at a net margin of 6.5%. Revenue grew 7.5% year over year. It earns a return on equity of 9.8%. The balance sheet holds a net cash position of HK$106M. Fundamentals as of Jul 3, 2026

Our scenario range runs from HK$35.64 (bear case) to HK$63.12 (bull case); at HK$33.00, the current price sits below that range. The share trades about 18% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 53% fair-value upside, at 53%, 9638 screens cheaper than that median.

Key figures & financial health

Revenue (TTM) HK$1.4B
Revenue growth (YoY) +7.5%
Net margin 6.5%
Return on equity 9.8%
Free cash flow HK$70.3M FY2025
P/E ratio 13.9
More key figures
Operating margin 8.9%
EPS (TTM) HK$0.1300
Dividend yield 0.3%
EPS growth (YoY) +5.7%
Net cash HK$106M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

Ferretti S.p.A. designs, constructs, markets, and sells yachts and vessels under the Riva, Wally, Ferretti Yachts, Pershing, Itama, Easy Boat, CRN, and Custom Line brand names. It offers luxury composite yachts, made-to-measure yachts, superyachts with various features, and ancillary services; and owns and operates shipyards. The company also provides yacht brokerage, chartering, and management services, as well as after-sales and refitting services; engages in brand extension activities, such as lounges; manufactures and installs wooden furnishings and kinetics for nautical interiors; and manufactures and sells coastal patrol vessel by the FSD and Wally sailing yachts. The company operates in Europe, the Middle East, Africa, and the Asia Pacific, as well as the North, Central, and South America. Ferretti S.p.A. was founded in 1968 and is headquartered in Forlì, Italy.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ferretti S.p.A reported revenue of HK$1.3B in FY2025 versus HK$956M in FY2021, a compound +7.6%/yr. Reported net income was HK$90.0M in FY2025, compounding +24.4%/yr from FY2021.

Revenue +7.6%/yr
FY21 HK$956M
FY22 HK$1.0B
FY23 HK$1.1B
FY24 HK$1.3B
FY25 HK$1.3B
Net income +24.4%/yr
FY21 HK$37.5M
FY22 HK$60.3M
FY23 HK$83.0M
FY24 HK$87.9M
FY25 HK$90.0M

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Cite: Fair Value Calculator (2026). "Ferretti S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/9638

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Frequently asked questions

Is Ferretti S.p.A (9638) undervalued?
As of Jul 3, 2026, our model estimates a fair value of HK$50.56 versus a price of HK$33.00, about +53% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 9638?
Our model-based fair value for Ferretti S.p.A is HK$50.56 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$33.00.
What is the quality score of 9638?
Ferretti S.p.A has a Quality Score of 59/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Ferretti S.p.A (9638)?
Ferretti S.p.A reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of 9638?
The net profit margin of Ferretti S.p.A is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. Based on the latest reported figures.
Does Ferretti S.p.A pay a dividend?
Ferretti S.p.A currently shows a dividend yield of about 0.32% relative to its recent price (as of Jul 3, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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