MICHELIN (CGDE) (ML.PA) Fundamental Analysis & Valuation
EPA:ML • FR001400AJ45
31 EUR
+0.1 (+0.32%)
Last: Mar 11, 2026, 05:36 PM
This ML.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, ML scores 6 out of 10 in our fundamental rating. ML was compared to 33 industry peers in the Automobile Components industry. While ML belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. ML is valued correctly, but it does not seem to be growing. ML also has an excellent dividend rating. These ratings would make ML suitable for dividend investing!
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.
1.2 Ratios
- ML has a Return On Assets of 4.39%. This is amongst the best in the industry. ML outperforms 90.91% of its industry peers.
- ML has a better Return On Equity (8.81%) than 81.82% of its industry peers.
- ML's Return On Invested Capital of 8.17% is amongst the best of the industry. ML outperforms 81.82% 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 9.73%.
| Industry Rank | Sector 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%
1.3 Margins
- Looking at the Profit Margin, with a value of 5.84%, ML belongs to the top of the industry, outperforming 93.94% 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 93.94% of its industry peers.
- ML's Operating Margin has been stable in the last couple of years.
- The Gross Margin of ML (27.60%) is better than 60.61% of its industry peers.
- In the last couple of years the Gross Margin of ML has remained more or less at the same level.
| Industry Rank | Sector 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%
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.
2.2 Solvency
- An Altman-Z score of 2.59 indicates that ML is not a great score, but indicates only limited risk for bankruptcy at the moment.
- ML's Altman-Z score of 2.59 is amongst the best of the industry. ML outperforms 81.82% 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.
- ML has a Debt to FCF ratio of 6.17. This is in the better half of the industry: ML outperforms 72.73% 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.
- Looking at the Debt to Equity ratio, with a value of 0.32, ML belongs to the top of the industry, outperforming 81.82% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.32 | ||
| Debt/FCF | 6.17 | ||
| Altman-Z | 2.59 |
ROIC/WACC1.19
WACC6.89%
2.3 Liquidity
- A Current Ratio of 1.80 indicates that ML should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.80, ML belongs to the top of the industry, outperforming 90.91% of the companies in the same industry.
- A Quick Ratio of 1.12 indicates that ML should not have too much problems paying its short term obligations.
- ML's Quick ratio of 1.12 is amongst the best of the industry. ML outperforms 81.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.8 | ||
| Quick Ratio | 1.12 |
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.
4. ML.PA Valuation Analysis
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 13.14 indicates a correct valuation of ML.
- Based on the Price/Earnings ratio, ML is valued a bit cheaper than 63.64% of the companies in the same industry.
- When comparing the Price/Earnings ratio of ML to the average of the S&P500 Index (26.25), we can say ML is valued slightly cheaper.
- A Price/Forward Earnings ratio of 10.57 indicates a reasonable valuation of ML.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of ML is on the same level as its industry peers.
- The average S&P500 Price/Forward Earnings ratio is at 24.39. ML is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.14 | ||
| Fwd PE | 10.57 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as ML.
- ML's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. ML is more expensive than 60.61% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.53 | ||
| EV/EBITDA | 5.14 |
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.
- 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)0.54
PEG (5Y)0.6
EPS Next 2Y20.76%
EPS Next 3Y17.92%
5. ML.PA Dividend Analysis
5.1 Amount
- ML has a Yearly Dividend Yield of 4.40%, which is a nice return.
- Compared to an average industry Dividend Yield of 3.13, ML pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, ML pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
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
5.3 Sustainability
- ML pays out 62.40% of its income as dividend. 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 Fundamentals: All Metrics, Ratios and Statistics
EPA:ML (3/11/2026, 5:36:15 PM)
31
+0.1 (+0.32%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobile Components
Earnings (Last)02-11 2026-02-11/amc
Earnings (Next)07-22 2026-07-22
Inst Owners55.04%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap21.32B
Revenue(TTM)N/A
Net Income(TTM)1.56B
Analysts74.81
Price Target33.83 (9.13%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.4% |
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.14 | ||
| Fwd PE | 10.57 | ||
| P/S | 0.8 | ||
| P/FCF | 17.53 | ||
| P/OCF | 6.3 | ||
| P/B | 1.2 | ||
| P/tB | 1.63 | ||
| EV/EBITDA | 5.14 |
EPS(TTM)2.36
EY7.61%
EPS(NY)2.93
Fwd EY9.46%
FCF(TTM)1.77
FCFY5.7%
OCF(TTM)4.92
OCFY15.87%
SpS38.89
BVpS25.78
TBVpS18.97
PEG (NY)0.54
PEG (5Y)0.6
Graham Number37
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 2.59 |
F-Score5
WACC6.89%
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 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%.