Honda Motor ADR (HMC) is fairly valued and Ferrari NV (RACE) is overvalued.
Both trade above our estimate of their intrinsic value. HMC is the closer of the two: -5%, against -65% for RACE.
Values as of the 22 Sept 2026 close.
A 0.7x revenue multiple, discounted for its losses, values the shares at $31.00; the price of $32.42 is 5% above that value.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 9.5% (average of 3 methods) values the shares at $251.06; the price of $413.32 is 65% above that value, and 75% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | HMC | RACE |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $32.42 | $413.32 |
| Intrinsic value | $31.00 | $251.06 |
| Margin of safety | -5% | -65% |
| Leak Score | 0/100 (2/12) | 59/100 (3/12) |
| Market cap | $42.1B | $65.8B |
| Revenue growth, 5 years | 3.1% | 15.4% |
| Operating margin | -0.5% | 29.8% |
| Net margin | -0.7% | 22.3% |
| Return on equity | -1.4% | 45.8% |
| Debt to equity | 1.14 | 0.87 |
| P/E | — | 38.4x |
| Forward P/E | 7.8x | 32.5x |
| P/B | 0.6x | 17.4x |
| Dividend yield | 4.2% | 1.1% |