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Market Closed -
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5-day change | 1st Jan Change | ||
| 29.94 EUR | -3.42% |
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-4.47% | +5.76% |
| 10/03 | Fitch Confirms French Tire Maker Michelin's Rating, Outlook | MT |
| 09/03 | European Markets Fall Amid Middle East War, Surging Oil Prices | MT |
Projected Income Statement: Michelin (CGDE)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 20,469 | 23,795 | 28,590 | 28,343 | 27,193 | 25,992 | 26,483 | 27,523 |
| Change | - | 16.25% | 20.15% | -0.86% | -4.06% | -4.42% | 1.89% | 3.93% |
| EBITDA 1 | 3,631 | 4,700 | 5,262 | 5,489 | 5,361 | 4,663 | 4,913 | 5,296 |
| Change | - | 29.44% | 11.96% | 4.31% | -2.33% | -13.02% | 5.36% | 7.8% |
| EBIT 1 | 1,878 | 2,966 | 3,396 | 3,572 | 3,378 | 2,719 | 2,971 | 3,360 |
| Change | - | 57.93% | 14.5% | 5.18% | -5.43% | -19.51% | 9.27% | 13.1% |
| Interest Paid 1 | -312 | -237 | -306 | -290 | -146 | -218 | -166 | -149.9 |
| Earnings before Tax (EBT) 1 | 979 | 2,471 | 2,656 | 2,490 | 2,445 | 2,258 | 2,515 | 2,930 |
| Change | - | 152.4% | 7.49% | -6.25% | -1.81% | -7.65% | 11.38% | 16.49% |
| Net income 1 | 632 | 1,844 | 2,001 | 1,983 | 1,884 | 1,665 | 1,908 | 2,192 |
| Change | - | 191.77% | 8.51% | -0.9% | -4.99% | -11.62% | 14.61% | 14.89% |
| Announcement Date | 15/02/21 | 14/02/22 | 13/02/23 | 12/02/24 | 12/02/25 | 11/02/26 | - | - |
Forecast Balance Sheet: Michelin (CGDE)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,531 | 2,789 | 4,320 | 3,281 | 3,112 | 2,345 | 3,135 | 2,828 |
| Change | - | -21.01% | 54.89% | -24.05% | -5.15% | -24.65% | 13.96% | -9.79% |
| Announcement Date | 15/02/21 | 14/02/22 | 13/02/23 | 12/02/24 | 12/02/25 | 11/02/26 | - | - |
Cash Flow Forecast: Michelin (CGDE)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 1,221 | 1,705 | 2,041 | 2,268 | 2,215 | 1,880 | 2,058 | 2,110 |
| Change | - | 39.64% | 19.71% | 11.12% | -2.34% | -15.12% | 2.7% | 2.53% |
| Free Cash Flow (FCF) 1 | 2,139 | 1,427 | -110 | 2,343 | 2,225 | 2,181 | 1,623 | 1,856 |
| Change | - | -33.29% | -107.71% | 2,230% | -5.04% | -1.98% | -18.98% | 14.39% |
| Announcement Date | 15/02/21 | 14/02/22 | 13/02/23 | 12/02/24 | 12/02/25 | 11/02/26 | - | - |
Forecast Financial Ratios: Michelin (CGDE)
| Fiscal Period: December | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | 17.74% | 19.75% | 18.41% | 19.37% | 19.71% | 17.94% | 18.55% | 19.24% |
| EBIT Margin (%) | 9.17% | 12.46% | 11.88% | 12.6% | 12.42% | 10.46% | 11.22% | 12.21% |
| EBT Margin (%) | 4.78% | 10.38% | 9.29% | 8.79% | 8.99% | 8.69% | 9.5% | 10.64% |
| Net margin (%) | 3.09% | 7.75% | 7% | 7% | 6.93% | 6.41% | 7.21% | 7.97% |
| FCF margin (%) | 10.45% | 6% | -0.38% | 8.27% | 8.18% | 8.39% | 6.13% | 6.74% |
| FCF / Net Income (%) | 338.45% | 77.39% | -5.5% | 118.15% | 118.1% | 130.99% | 85.03% | 84.66% |
Profitability | ||||||||
| ROA | 2% | 5.56% | 5.73% | 5.62% | 5.19% | 4.6% | 5.09% | 5.52% |
| ROE | 4.9% | 12.3% | 12.5% | 11.3% | 10.3% | 9.1% | 10.55% | 11.87% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | 0.97x | 0.59x | 0.82x | 0.6x | 0.58x | 0.5x | 0.64x | 0.53x |
| Debt / Free cash flow | 1.65x | 1.95x | -39.27x | 1.4x | 1.4x | 1.08x | 1.93x | 1.52x |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 5.97% | 7.17% | 7.14% | 8% | 8.15% | 7.23% | 7.77% | 7.67% |
| CAPEX / EBITDA (%) | 33.63% | 36.28% | 38.79% | 41.32% | 41.32% | 40.32% | 41.89% | 39.84% |
| CAPEX / FCF (%) | 57.08% | 119.48% | -1,855.45% | 96.8% | 99.55% | 86.2% | 126.83% | 113.68% |
Items per share | ||||||||
| Cash flow per share 1 | 4.697 | 4.046 | 2.692 | 7.347 | 6.088 | 5.417 | 5.349 | 5.936 |
| Change | - | -13.86% | -33.45% | 172.89% | -17.14% | -11.01% | 6.63% | 10.97% |
| Dividend per Share 1 | 0.575 | 1.125 | 1.25 | 1.35 | 1.38 | 1.38 | 1.406 | 1.619 |
| Change | - | 95.65% | 11.11% | 8% | 2.22% | 0% | 7.61% | 15.13% |
| Book Value Per Share 1 | 17.7 | 20.98 | 24 | 25.1 | 26.4 | 26.3 | 26.05 | 27.75 |
| Change | - | 18.5% | 14.42% | 4.58% | 5.18% | -0.38% | -1.06% | 6.53% |
| EPS 1 | 0.8775 | 2.56 | 2.79 | 2.75 | 2.62 | 2.33 | 2.711 | 3.213 |
| Change | - | 191.74% | 8.98% | -1.43% | -4.73% | -11.07% | 17.86% | 18.52% |
| Nbr of stocks (in thousands) | 7,13,357 | 7,14,121 | 7,14,117 | 7,14,958 | 7,05,747 | 6,87,081 | 6,87,081 | 6,87,081 |
| Announcement Date | 15/02/21 | 14/02/22 | 13/02/23 | 12/02/24 | 12/02/25 | 11/02/26 | - | - |
| 2025 | 2026 * | |
|---|---|---|
| P/E ratio | 12.2x | 11x |
| PBR | 1.08x | 1.15x |
| EV / Sales | 0.84x | 0.9x |
| Yield | 4.87% | 4.7% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
Trader
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Quarterly revenue - Rate of surprise
- Stock Market
- Equities
- ML Stock
- Financials Michelin (CGDE)
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