Obermatt

Michelin

PAR:ML · FR001400AJ45
Auto ComponentsX-Large

360

92
EV / EBIT78
Price / Owner Earnings59
Owner Earnings Yield79
Dividend Yield88
Price/Sales48
EV / Gross Profit71
Price/Book58
Return on Capital40
Cash Return on Capital69
Return on Equity50
EBIT Margin64
Gross Profitability43
Cash Conversion64
Accruals53
Owner Earnings Margin70
Sales growth53
Profit Growth98
Long-Term EPS Growth26
Owner Earnings Growth70
Reinvestment61
Price momentum37
Debt load69
Refinancing60
Debt Payback54
Liquidity68
Analyst ratings40
Opinion Changes50
Price Target Upside33
Market mood65
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Michelin clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryFrance
IndustryAuto Components
SizeX-Large
TypePublic Company
ExchangeENXTPA
Founded1863
Employees31,574
ISINFR001400AJ45
Last UpdateApr 2, 2026
Themes
ClimateTechFleet ManagementNavigationAutomotiveRetail

Description

Compagnie Générale des Établissements Michelin Société en commandite par actions manufactures and sells tires. The company specializes in the design, production, and marketing of tires for various vehicles, including passenger cars, trucks, motorcycl…

Analysis

Bargain bin

Compagnie Générale des Établissements Michelin Société en commandite par actions is priced cheaply, and that invites the natural question of why, since the underlying business scores below average.

On valuation, the picture is attractive. The owner-earnings multiple stands at 12.4×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around -0% a year, against analyst forecasts of 7%. The price, in other words, assumes less than the experts do.

Growth is moderate; the safety picture is sturdy. The company scores 12/20 on our value-creation score: creating some value.

No flags apply to this company at this time: accounts, balance sheet, and cash quality all pass. A clean bill of health is meaningful, not just the absence of a warning. This analysis describes numbers; it is not investment advice.

360° rank · history

1007550250
96
2023202420252026

All-time high

100

Jan 2025

All-time low

43

Dec 2025

Average rank

82

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
48
25
31
36
Price/Earnings
66
55
49
49
Price/Book
58
45
49
44
Dividend Yield
88
86
66
77
Value (overall)
70
55
40
43

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →