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

EPA:ML • FR001400AJ45

Current stock price

29 EUR
-0.22 (-0.75%)
Last:

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

6

1. ML.PA Profitability Analysis

1.1 Basic Checks

  • In the past year ML was profitable.
  • In the past year ML had a positive cash flow from operations.
  • Of the past 5 years ML 4 years were profitable.
  • Of the past 5 years ML 4 years had a positive operating cash flow.
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

  • ML has a better Return On Assets (4.39%) than 86.67% of its industry peers.
  • Looking at the Return On Equity, with a value of 8.81%, ML is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
  • ML's Return On Invested Capital of 8.17% is fine compared to the rest of the industry. ML outperforms 76.67% of its industry peers.
  • 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 10.23%.
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

  • ML has a Profit Margin of 5.84%. This is amongst the best in the industry. ML outperforms 90.00% of its industry peers.
  • In the last couple of years the Profit Margin of ML has remained more or less at the same level.
  • The Operating Margin of ML (10.65%) is better than 93.33% of its industry peers.
  • ML's Operating Margin has been stable in the last couple of years.
  • 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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6

2. ML.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ML is still 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

  • ML has an Altman-Z score of 2.55. This is not the best score and indicates that ML is in the grey zone with still only limited risk for bankruptcy at the moment.
  • ML has a better Altman-Z score (2.55) than 76.67% of its industry peers.
  • ML has a debt to FCF ratio of 6.17. This is a slightly negative value and a sign of low solvency as ML would need 6.17 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 6.17, ML is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
  • ML has a Debt/Equity ratio of 0.32. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.32, ML belongs to the top 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 2.55
ROIC/WACC1.21
WACC6.73%
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

  • A Current Ratio of 1.80 indicates that ML should not have too much problems paying its short term obligations.
  • The Current ratio of ML (1.80) is better than 86.67% of its industry peers.
  • A Quick Ratio of 1.12 indicates that ML should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.12, ML is in the better half of the industry, outperforming 76.67% of the companies in the same industry.
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.
  • Measured over the past years, ML shows a very strong growth in Earnings Per Share. The EPS has been growing by 21.88% on average per year.
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

  • Based on estimates for the next years, ML will show a quite strong growth in Earnings Per Share. The EPS will grow by 17.92% on average per year.
  • Based on estimates for the next years, ML will show a small growth in Revenue. The Revenue will grow by 5.16% on average per year.
EPS Next Y24.26%
EPS Next 2Y20.76%
EPS Next 3Y17.92%
EPS Next 5YN/A
Revenue Next Year2.41%
Revenue Next 2Y3.17%
Revenue Next 3Y3.37%
Revenue Next 5Y5.16%

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 2028 1 2 3

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5

4. ML.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 12.29, ML is valued correctly.
  • Compared to the rest of the industry, the Price/Earnings ratio of ML is on the same level as its industry peers.
  • ML's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.89.
  • Based on the Price/Forward Earnings ratio of 9.89, the valuation of ML can be described as reasonable.
  • ML's Price/Forward Earnings ratio is in line with the industry average.
  • When comparing the Price/Forward Earnings ratio of ML to the average of the S&P500 Index (22.19), we can say ML is valued rather cheaply.
Industry RankSector Rank
PE 12.29
Fwd PE 9.89
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as ML.
  • Based on the Price/Free Cash Flow ratio, ML is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 16.4
EV/EBITDA 4.87
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

  • ML's 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 17.92% in the coming years.
PEG (NY)0.51
PEG (5Y)0.56
EPS Next 2Y20.76%
EPS Next 3Y17.92%

More info and screens

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

8

5. ML.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.72%, ML is a good candidate for dividend investing.
  • ML's Dividend Yield is rather good when compared to the industry average which is at 3.36. ML pays more dividend than 83.33% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, ML pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.72%

5.2 History

  • On average, the dividend of ML grows each year by 7.84%, which is quite nice.
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.
  • The dividend of ML is growing, but earnings are growing more, so the dividend growth is sustainable.
DP62.4%
EPS Next 2Y20.76%
EPS Next 3Y17.92%
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 (3/27/2026, 7:00:00 PM)

29

-0.22 (-0.75%)

Chartmill FA Rating
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)02-11
Earnings (Next)07-22
Inst Owners55.04%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap19.94B
Revenue(TTM)N/A
Net Income(TTM)1.56B
Analysts74.81
Price Target33.69 (16.17%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.72%
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)-0.4%
PT rev (3m)4.69%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1%
EPS NY rev (3m)-0.84%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.07%
Valuation
Industry RankSector Rank
PE 12.29
Fwd PE 9.89
P/S 0.75
P/FCF 16.4
P/OCF 5.89
P/B 1.13
P/tB 1.53
EV/EBITDA 4.87
EPS(TTM)2.36
EY8.14%
EPS(NY)2.93
Fwd EY10.11%
FCF(TTM)1.77
FCFY6.1%
OCF(TTM)4.92
OCFY16.97%
SpS38.89
BVpS25.78
TBVpS18.97
PEG (NY)0.51
PEG (5Y)0.56
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 2.55
F-Score5
WACC6.73%
ROIC/WACC1.21
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 Y24.26%
EPS Next 2Y20.76%
EPS Next 3Y17.92%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-5.46%
Revenue Next Year2.41%
Revenue Next 2Y3.17%
Revenue Next 3Y3.37%
Revenue Next 5Y5.16%
EBIT growth 1Y-17.5%
EBIT growth 3Y1.98%
EBIT growth 5Y1.14%
EBIT Next Year42.69%
EBIT Next 3Y18.24%
EBIT Next 5Y16.49%
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 Fundamental Analysis 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 8 / 10 and the dividend payout ratio is 62.4%.