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

EPA:ML • FR001400AJ45

Current stock price

29.58 EUR
-0.08 (-0.27%)
Last:

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

7

1. ML.PA Profitability Analysis

1.1 Basic Checks

  • ML had positive earnings in the past year.
  • ML had a positive operating cash flow in the past year.
  • 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

  • Looking at the Return On Assets, with a value of 4.39%, ML belongs to the top of the industry, outperforming 90.63% of the companies in the same industry.
  • ML has a better Return On Equity (8.81%) than 81.25% of its industry peers.
  • ML has a better Return On Invested Capital (8.17%) than 81.25% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ML is in line with the industry average of 10.00%.
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

  • With an excellent Profit Margin value of 5.84%, ML belongs to the best of the industry, outperforming 93.75% of the companies in the same industry.
  • ML's Profit Margin has been stable in the last couple of years.
  • Looking at the Operating Margin, with a value of 10.65%, ML belongs to the top of the industry, outperforming 93.75% of the companies in the same industry.
  • ML's Operating Margin has been stable in the last couple of years.
  • With a Gross Margin value of 27.60%, ML perfoms like the industry average, outperforming 59.38% of the companies in the same industry.
  • 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.
  • There is no outstanding debt for ML. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and 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 2.56. 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 Altman-Z score of 2.56. This is amongst the best in the industry. ML outperforms 81.25% of its industry peers.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 6.17, ML is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
  • A Debt/Equity ratio of 0.32 indicates that ML is not too dependend on debt financing.
  • ML has a Debt to Equity ratio of 0.32. This is amongst the best in the industry. ML outperforms 84.38% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.32
Debt/FCF 6.17
Altman-Z 2.56
ROIC/WACC1.19
WACC6.85%
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 better Current ratio (1.80) than 90.63% of its industry peers.
  • ML has a Quick Ratio of 1.12. This is a normal value and indicates that ML is financially healthy and should not expect problems in meeting its short term obligations.
  • The Quick ratio of ML (1.12) is better than 81.25% 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.
  • ML shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 21.88% yearly.
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

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
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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6

4. ML.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • ML is valuated correctly with a Price/Earnings ratio of 12.53.
  • ML's Price/Earnings ratio is a bit cheaper when compared to the industry. ML is cheaper than 62.50% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 25.71, ML is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 10.09, the valuation of ML can be described as very 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 (23.83), we can say ML is valued rather cheaply.
Industry RankSector Rank
PE 12.53
Fwd PE 10.09
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.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ML is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 16.73
EV/EBITDA 4.96
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.
  • The decent profitability rating of ML may justify a higher PE ratio.
  • ML's earnings are expected to grow with 17.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.52
PEG (5Y)0.57
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

  • ML has a Yearly Dividend Yield of 4.61%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.30, ML pays a better dividend. On top of this ML pays more dividend than 84.38% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.91, ML pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.61%

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 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

More info and screens

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ML.PA Fundamentals: All Metrics, Ratios and Statistics

MICHELIN (CGDE)

EPA:ML (3/16/2026, 3:46:20 PM)

29.58

-0.08 (-0.27%)

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 Cap20.34B
Revenue(TTM)N/A
Net Income(TTM)1.56B
Analysts74.81
Price Target33.83 (14.37%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.61%
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)4.08%
PT rev (3m)4.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1%
EPS NY rev (3m)-2.56%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)-0.09%
Valuation
Industry RankSector Rank
PE 12.53
Fwd PE 10.09
P/S 0.76
P/FCF 16.73
P/OCF 6.01
P/B 1.15
P/tB 1.56
EV/EBITDA 4.96
EPS(TTM)2.36
EY7.98%
EPS(NY)2.93
Fwd EY9.91%
FCF(TTM)1.77
FCFY5.98%
OCF(TTM)4.92
OCFY16.63%
SpS38.89
BVpS25.78
TBVpS18.97
PEG (NY)0.52
PEG (5Y)0.57
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 2.56
F-Score5
WACC6.85%
ROIC/WACC1.19
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 6 / 10 to ML.PA.


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

ChartMill assigns a valuation rating of 6 / 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 7 / 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%.