MICHELIN (CGDE) (ML.PA) Fundamental Analysis & Valuation

EPA:ML • FR001400AJ45

31.42 EUR
-0.5 (-1.57%)
Last: Mar 5, 2026, 05:07 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ML.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Taking everything into account, ML scores 5 out of 10 in our fundamental rating. ML was compared to 30 industry peers in the Automobile Components industry. ML has an average financial health and profitability rating. ML is valued correctly, but it does not seem to be growing. Finally ML also has an excellent dividend rating. These ratings would make ML suitable for dividend investing!


Dividend Valuation Growth Profitability Health

6

1. ML.PA Profitability Analysis

1.1 Basic Checks

  • ML had positive earnings in the past year.
  • In the past year ML had a positive cash flow from operations.
  • ML had positive earnings in 4 of the past 5 years.
  • ML had a positive operating cash flow in 4 of the past 5 years.
ML.PA Yearly Net Income VS EBIT VS OCF VS FCFML.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B 5B

1.2 Ratios

  • The Return On Assets of ML (4.39%) is better than 90.00% of its industry peers.
  • ML's Return On Equity of 8.81% is fine compared to the rest of the industry. ML outperforms 80.00% of its industry peers.
  • With a decent Return On Invested Capital value of 8.17%, ML is doing good in the industry, outperforming 76.67% of the companies in the same industry.
  • ML had an Average Return On Invested Capital over the past 3 years of 9.25%. This is in line with the industry average of 10.09%.
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROIC 8.17%
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
ML.PA Yearly ROA, ROE, ROICML.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 5.84%, ML belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
  • In the last couple of years the Profit Margin of ML has remained more or less at the same level.
  • ML has a better Operating Margin (10.65%) than 93.33% of its industry peers.
  • In the last couple of years the Operating Margin of ML has remained more or less at the same level.
  • ML has a Gross Margin of 27.60%. This is comparable to the rest of the industry: ML outperforms 60.00% of its industry peers.
  • ML's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
ML.PA Yearly Profit, Operating, Gross MarginsML.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. ML.PA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ML is creating some value.
  • ML has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ML.PA Yearly Shares OutstandingML.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
ML.PA Yearly Total Debt VS Total AssetsML.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

2.2 Solvency

  • An Altman-Z score of 2.61 indicates that ML is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a decent Altman-Z score value of 2.61, ML is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • The Debt to FCF ratio of ML is 6.17, which is on the high side as it means it would take ML, 6.17 years of fcf income to pay off all of its debts.
  • ML's Debt to FCF ratio of 6.17 is fine compared to the rest of the industry. ML outperforms 76.67% of its industry peers.
  • ML has a Debt/Equity ratio of 0.32. This is a healthy value indicating a solid balance between debt and equity.
  • With an excellent Debt to Equity ratio value of 0.32, ML belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.17
Altman-Z 2.61
ROIC/WACC1.18
WACC6.92%
ML.PA Yearly LT Debt VS Equity VS FCFML.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

  • ML has a Current Ratio of 1.80. This is a normal value and indicates that ML is financially healthy and should not expect problems in meeting its short term obligations.
  • ML has a Current ratio of 1.80. This is amongst the best in the industry. ML outperforms 93.33% of its industry peers.
  • A Quick Ratio of 1.12 indicates that ML should not have too much problems paying its short term obligations.
  • The Quick ratio of ML (1.12) is better than 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.8
Quick Ratio 1.12
ML.PA Yearly Current Assets VS Current LiabilitesML.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. ML.PA Growth Analysis

3.1 Past

  • The earnings per share for ML have decreased by -9.92% in the last year.
  • The Earnings Per Share has been growing by 21.88% on average over the past years. This is a very strong growth
EPS 1Y (TTM)-9.92%
EPS 3Y-5.65%
EPS 5Y21.88%
EPS Q2Q%16.67%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-5.46%

3.2 Future

  • ML is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.73% yearly.
  • ML is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.93% yearly.
EPS Next Y27.84%
EPS Next 2Y21.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year2.35%
Revenue Next 2Y3%
Revenue Next 3Y3.49%
Revenue Next 5Y4.93%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ML.PA Yearly Revenue VS EstimatesML.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B
ML.PA Yearly EPS VS EstimatesML.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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Find the best growth stocksShow best growing peers

5

4. ML.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 13.31, ML is valued correctly.
  • ML's Price/Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 27.03, ML is valued rather cheaply.
  • ML is valuated reasonably with a Price/Forward Earnings ratio of 10.41.
  • ML's Price/Forward Earnings is on the same level as the industry average.
  • ML's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 25.11.
Industry RankSector Rank
PE 13.31
Fwd PE 10.41
ML.PA Price Earnings VS Forward Price EarningsML.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • ML's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ML indicates a slightly more expensive valuation: ML is more expensive than 60.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 17.77
EV/EBITDA 5.28
ML.PA Per share dataML.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ML has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as ML's earnings are expected to grow with 21.73% in the coming years.
PEG (NY)0.48
PEG (5Y)0.61
EPS Next 2Y21.73%
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. ML.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.04%, ML is a good candidate for dividend investing.
  • ML's Dividend Yield is a higher than the industry average which is at 2.96.
  • Compared to an average S&P500 Dividend Yield of 1.82, ML pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.04%

5.2 History

  • The dividend of ML is nicely growing with an annual growth rate of 7.84%!
Dividend Growth(5Y)7.84%
Div Incr Years5
Div Non Decr Years5
ML.PA Yearly Dividends per shareML.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 62.40% of the earnings are spent on dividend by ML. This is not a sustainable payout ratio.
  • ML's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP62.4%
EPS Next 2Y21.73%
EPS Next 3YN/A
ML.PA Yearly Income VS Free CF VS DividendML.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
ML.PA Dividend Payout.ML.PA Dividend Payout, showing the Payout Ratio.ML.PA Dividend Payout.PayoutRetained Earnings

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ML.PA Fundamentals: All Metrics, Ratios and Statistics

MICHELIN (CGDE)

EPA:ML (3/5/2026, 5:07:14 PM)

31.42

-0.5 (-1.57%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)02-11
Earnings (Next)07-22
Inst Owners46.08%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap21.60B
Revenue(TTM)N/A
Net Income(TTM)1.56B
Analysts74.81
Price Target33.83 (7.67%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.04%
Yearly Dividend1.35
Dividend Growth(5Y)7.84%
DP62.4%
Div Incr Years5
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)4.53%
PT rev (3m)4.77%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.8%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)-0.13%
Valuation
Industry RankSector Rank
PE 13.31
Fwd PE 10.41
P/S 0.81
P/FCF 17.77
P/OCF 6.39
P/B 1.22
P/tB 1.66
EV/EBITDA 5.28
EPS(TTM)2.36
EY7.51%
EPS(NY)3.02
Fwd EY9.6%
FCF(TTM)1.77
FCFY5.63%
OCF(TTM)4.92
OCFY15.66%
SpS38.89
BVpS25.78
TBVpS18.97
PEG (NY)0.48
PEG (5Y)0.61
Graham Number37
Profitability
Industry RankSector Rank
ROA 4.39%
ROE 8.81%
ROCE 10.41%
ROIC 8.17%
ROICexc 9.37%
ROICexgc 11.66%
OM 10.65%
PM (TTM) 5.84%
GM 27.6%
FCFM 4.55%
ROA(3y)5.45%
ROA(5y)4.73%
ROE(3y)10.95%
ROE(5y)10.02%
ROIC(3y)9.25%
ROIC(5y)8.5%
ROICexc(3y)10.45%
ROICexc(5y)9.86%
ROICexgc(3y)12.91%
ROICexgc(5y)12.2%
ROCE(3y)11.87%
ROCE(5y)10.97%
ROICexgc growth 3Y-1.17%
ROICexgc growth 5Y0.57%
ROICexc growth 3Y-1.78%
ROICexc growth 5Y0.45%
OM growth 3Y-2.46%
OM growth 5Y-1.24%
PM growth 3Y-3.58%
PM growth 5Y-0.79%
GM growth 3Y-0.99%
GM growth 5Y-0.59%
F-Score5
Asset Turnover0.75
Health
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.17
Debt/EBITDA 1.17
Cap/Depr 109.17%
Cap/Sales 8.1%
Interest Coverage 9.96
Cash Conversion 70%
Profit Quality 77.9%
Current Ratio 1.8
Quick Ratio 1.12
Altman-Z 2.61
F-Score5
WACC6.92%
ROIC/WACC1.18
Cap/Depr(3y)115.81%
Cap/Depr(5y)103.08%
Cap/Sales(3y)7.94%
Cap/Sales(5y)7.39%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-9.92%
EPS 3Y-5.65%
EPS 5Y21.88%
EPS Q2Q%16.67%
EPS Next Y27.84%
EPS Next 2Y21.73%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-5.46%
Revenue Next Year2.35%
Revenue Next 2Y3%
Revenue Next 3Y3.49%
Revenue Next 5Y4.93%
EBIT growth 1Y-17.5%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year42.69%
EBIT Next 3Y18.24%
EBIT Next 5Y16.26%
FCF growth 1Y-22%
FCF growth 3Y19.97%
FCF growth 5Y6.41%
OCF growth 1Y-10.1%
OCF growth 3Y14.27%
OCF growth 5Y5.48%

MICHELIN (CGDE) / ML.PA FAQ

What is the ChartMill fundamental rating of MICHELIN (CGDE) (ML.PA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to ML.PA.


What is the valuation status of MICHELIN (CGDE) (ML.PA) stock?

ChartMill assigns a valuation rating of 5 / 10 to MICHELIN (CGDE) (ML.PA). This can be considered as Fairly Valued.


How profitable is MICHELIN (CGDE) (ML.PA) stock?

MICHELIN (CGDE) (ML.PA) has a profitability rating of 6 / 10.


How financially healthy is MICHELIN (CGDE)?

The financial health rating of MICHELIN (CGDE) (ML.PA) is 6 / 10.


How sustainable is the dividend of MICHELIN (CGDE) (ML.PA) stock?

The dividend rating of MICHELIN (CGDE) (ML.PA) is 7 / 10 and the dividend payout ratio is 62.4%.