Ferrari NV (RACE) is overvalued and Rivian Automotive Inc (RIVN) is overvalued.
Both trade above our estimate of their intrinsic value. RACE is the closer of the two: -65%, against -1676% for RIVN.
Values as of the 22 Sept 2026 close.
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
A 0.4x revenue multiple, discounted for its losses, values the shares at $0.85; the price of $15.14 is 1676% above that value.
Leak Score 27/100 on 7 of 12 signals
| Metric | RACE | RIVN |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $413.32 | $15.14 |
| Intrinsic value | $251.06 | $0.85 |
| Margin of safety | -65% | -1676% |
| Leak Score | 59/100 (3/12) | 27/100 (7/12) |
| Market cap | $65.8B | $21.9B |
| Revenue growth, 5 years | 15.4% | — |
| Operating margin | 29.8% | -60.0% |
| Net margin | 22.3% | -54.9% |
| Return on equity | 45.8% | -57.9% |
| Debt to equity | 0.87 | 1.05 |
| P/E | 38.4x | — |
| Forward P/E | 32.5x | — |
| P/B | 17.4x | 4.0x |
| Dividend yield | 1.1% | — |