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Investlytic score: 3/5 criteria met. Data as of 03/10/2026.
- ✅ Price trend passed
- ⚠️ Mixed growth
- ✅ Debt passed
- ✅ P/E passed
- ❌ Correction failed
Price trend
Overall trend (8 years): the price has been multiplied by at least 1.5.
Price change 2018 → 2019: 25.89%
Price change 2019 → 2020: -3.81%
Price change 2020 → 2021: 37.35%
Price change 2021 → 2022: -27.89%
Price change 2022 → 2023: 24.89%
Price change 2023 → 2024: -2.03%
Price change 2024 → 2025: -10.97%
Price change 2025 → 2026: 16.92%
Price change 2026 (year to date): 15.49%
Financial growth
Revenue CAGR (8 years): 2.39%
Earnings CAGR (8 years): -0.10%
Growth status: positive trend (>1%/yr) in revenue OR earnings, but not both.
Debt
Debt-to-equity ratio: 0.37
Debt/equity < 0.5 (maximum threshold).
P/E (Price/Earnings)
P/E ratio: 14.51
P/E < 25.0 (maximum threshold).
Correction (6 months)
Current correction: 5.89% from the high over 6 months.
Insufficient correction (< 10.0%).
Criteria of the Investlytic model
- / 5Free with the Investlytic logo. Paste this line into your page: options.
<script src="https://investlytic.co/encart.js" data-symbole="ML.PA" data-lang="en"></script>Price trend
Price & trend
Interactive chart →💰 Dividend
Dividend ranking →⚖️ Comparison with the market
All stocks →| Stock | P/E | Dette/FP | Revenue growth | Rating |
|---|---|---|---|---|
| Compagnie Générale des Établissements Michelin Société en commandite par actions | 13.9 | 0.37 | +2.5 % | 🔒 |
| Kering S.A. | 35.9 | 1.60 | +0.0 % | – |
| Copart, Inc. | 18.7 | 0.01 | +11.9 % | ★ 5/5 |
| adidas AG | 21.7 | 0.96 | +5.0 % | – |
| GameStop Corp. | 18.9 | 0.80 | −6.2 % | – |
Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.
Detailed analysis · Price trend
-
Revenues & profits
Revenue and net income
Financial indicators
Annual financial statements
| Fiscal year | Revenue | Net income | Net margin | EPS | Revenue growth |
|---|
Key reported figures
Revenue, net income and net margin reported by Michelin over the latest fiscal years.
| Fiscal year | Revenue | Net income | Net margin | Revenue growth |
|---|---|---|---|---|
| 2020 | 22.8 bn | 705 m | 3.1 % | n/a |
| 2021 | 26.5 bn | 2.1 bn | 7.8 % | +16.2 % |
| 2022 | 31.9 bn | 2.2 bn | 7.0 % | +20.2 % |
| 2023 | 31.6 bn | 2.2 bn | 7.0 % | -0.9 % |
| 2024 | 30.3 bn | 2.1 bn | 6.9 % | -4.1 % |
| 2025 | 29.0 bn | 1.9 bn | 6.4 % | -4.4 % |
Amounts converted to USD. Source: published annual accounts, collected on 06/11/2026.
Accounts and financial health
Balance sheet and cash flow published by Michelin over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and investments | 4.5 bn | 2.6 bn | 2.8 bn | 4.0 bn | 4.0 bn |
| Total Debt | 8.0 bn | 7.5 bn | 6.2 bn | 7.4 bn | 6.6 bn |
| Net Debt | 3.5 bn | 4.9 bn | 3.7 bn | 3.6 bn | 2.9 bn |
| Equity | 15.0 bn | 17.1 bn | 18.0 bn | 18.6 bn | 18.1 bn |
| Total assets | 34.5 bn | 35.3 bn | 35.2 bn | 37.4 bn | 35.0 bn |
| Operating cash flow | 2.9 bn | 1.9 bn | 5.3 bn | 4.3 bn | 3.8 bn |
| Investments (capex) | 1.7 bn | 2.1 bn | 2.0 bn | 1.9 bn | 1.7 bn |
| Free cash-flow | 1.2 bn | -210 m | 3.1 bn | 2.1 bn | 1.8 bn |
| Share buybacks | 0 | 120 m | 0 | 502 m | 668 m |
| Dividends paid | 410 m | 803 m | 893 m | 961 m | 974 m |
Amounts in EUR, currency of the published accounts.
Trailing 12-month ratios
Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 09/11/2026.
Valuation and competitors
Michelin compared with its sector on the same exchange and with its main competitors.
Direct competitors
| Company | Market cap (USD) | P/E | Net margin |
|---|---|---|---|
| Michelin | 24.0 bn | 13.9 | 6.4 % |
| Pirelli & C. S.p.A. PIRC.MI | 7.9 bn | 12.4 | 7.3 % |
| Sailun Group Co., Ltd. 601058.SS | 5.8 bn | 9.9 | 9.6 % |
| Continental AG CON.DE | 14.9 bn | n/a | -0.8 % |
| Sector median (Euronext Paris) | 22.4 |
Trailing 12-month P/E. Sector: median of companies in the same sector listed on the same exchange, collected on 09/11/2026. Competitors: comparable companies named by the data provider.
Analyst consensus and forecasts
What the financial analysts covering Michelin publish: ratings, price targets and earnings forecasts.
Breakdown of ratings
Price targets: published for companies listed in the United States only.
Analyst forecasts
| Fiscal year | Revenue | Net income | Expected EPS (range) | P/E on this EPS | Analysts |
|---|---|---|---|---|---|
| 2026 | 26.3 bn | 1.9 bn | 2.63 (2.30 / 2.90) | 12.1 | 11 |
| 2027 | 27.5 bn | 2.1 bn | 3.06 (2.77 / 3.37) | 10.4 | 11 |
| 2028 | 28.5 bn | 2.3 bn | 3.54 (2.92 / 4.28) | 9.0 | 10 |
Amounts in EUR, the reporting currency.
Track record against expectations: reported EPS above consensus 4 times over the last 12 releases.
Source: ratings and forecasts published by analysts, collected on 07/11/2026. An analyst rating or target is not a guarantee.
Dividends and earnings
Michelin: dividend history, last distributions, stock splits and earnings releases.
Annual dividend per share (EUR), adjusted for splits. Light bar: current year, incomplete. Red bar: lower than the previous year.
Latest ex-dividend dates
| Ex-dividend | Amount | Payment |
|---|---|---|
| 26/05/2026 | 1.38 EUR | 28/05/2026 |
| 21/05/2025 | 1.38 EUR | 23/05/2025 |
| 22/05/2024 | 1.35 EUR | 24/05/2024 |
| 17/05/2023 | 1.25 EUR | 19/05/2023 |
| 17/05/2022 | 1.12 EUR | 19/05/2022 |
| 25/05/2021 | 0.575 EUR | 27/05/2021 |
| 01/07/2020 | 0.500 EUR | 03/07/2020 |
| 21/05/2019 | 0.925 EUR | 23/05/2019 |
Earnings releases
| Date | Published EPS | Expected EPS | Surprise |
|---|---|---|---|
| 27/07/2026 | 1.10 | 1.28 | -14.1 % |
| 11/02/2026 | 1.19 | 1.09 | +9.2 % |
| 24/07/2025 | 1.17 | 1.53 | -23.5 % |
| 12/02/2025 | 0.98 | 1.28 | -23.3 % |
| 22/10/2024 | 1.57 | 1.46 | +7.5 % |
| 12/02/2024 | 1.10 | 1.46 | -24.7 % |
Stock splits
| Date | Operation |
|---|---|
| 16/06/2022 | split: 4 shares for 1 |
| 30/09/2010 | split: 517 shares for 500 |
Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.
Who owns the stock
Free float, institutional investors, large funds, executives and elected officials: declared positions in Michelin.
Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 31/10/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.
PEA and practical information
Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.
Frequently asked questions about Michelin
What is the Michelin share price?
Latest recorded price: 33.20 EUR on 06/11/2026, for a market cap of 24.9 bn USD.
What is the revenue of Michelin?
29.0 bn USD for fiscal year 2025, with net income of 1.9 bn USD (net margin 6.4 %).
Does Michelin pay a dividend?
Yes. Latest dividend: 1.38 EUR per share, ex-dividend on 26/05/2026. Over 12 months: 1.38 EUR. Yield on the latest known price: 4.9 %.
When does Michelin report its next earnings?
The next release is expected on 11/02/2027. EPS expected by analysts: 1.03.
What do analysts say about Michelin?
Out of 1 analysts: 0 buy or strong buy, 1 hold, 0 sell or strong sell.
What is the P/E ratio of Michelin?
Trailing 12-month P/E of 14.4, against 22.4 for the sector median on the same exchange (10-year median: 22.8).
Is Michelin stock eligible for the French PEA?
Likely: the company is headquartered in the European Union or the European Economic Area (ISIN FR001400AJ45) and the stock is listed on a European exchange. The institution holding the PEA confirms eligibility.
How many employees does Michelin have?
118,400 full-time employees according to the latest published profile.
Who runs Michelin?
Florent Menegaux is the company's chief executive.