Consensus estimates Read the forecasts and recommendations of analysts on the value of the Michelin share Imprimer Full year consensus estimates 01/10/2022 | XLSX - 16.37 Ko Annual consensus estimates Full Year 2021 Last update: January 10, 2022 In million of euros Average Maximum value Minimum value Responses Sales 23,197 23,426 23,012 16 Volume effect +10.6% +11.4% +9.4% 14 Price-mix effect +5.1% +5.8% +4.4% 14 Currency effect -2.4% -1.7% -3.1% 14 Scope +0.1% +1.0% -0.2% 14 Segment operating income 2,962 3,092 2,867 16 Segment operating margin +12.8% +13.4% +12.4% 16 Operating income 2,877 2,977 2,667 14 Operating margin +12.4% +12.8% +11.6% 14 Net Income 1,922 2,097 1,649 16 Earnings per share (published) 10.77 11.74 9.22 16 Dividend per share 4.65 5.87 2.3 16 Net debt 2,611 2,986 1,155 16 Free cash flow 1,309 1,618 1,100 16 SR1 (PC & LT + related distribution) sales 11,518 11,719 11,000 15 SR1 operating income 1,496 1,582 1,355 13 SR1 operating margin +13.0% +13.8% +12.3% 13 SR2 (Truck + related distribution) sales 6,091 6,228 5,850 15 SR2 operating income 592 653 555 13 SR2 operating margin +9.7% +10.5% +9.0% 13 SR3 (Other activities) sales 5,595 6,188 5,413 15 SR3 operating income 863 957 793 13 SR3 operating margin +15.4% +16.7% +14.3% 13 TARGET PRICE 156.3 175 130 16 Full year 2022 Last update: January 10, 2022 In million of euros Average Maximum value Minimum value Responses Sales 24,980 25,930 23,688 16 Volume effect +4.0% +5.5% +2.0% 14 Price-mix effect +2.9% +5.0% +0.0% 14 Currency effect +1.0% +3.0% +0.0% 14 Scope -0.1% +0.0% -0.6% 14 Segment operating income 3,325 3,672 3,120 16 Segment operating margin +13.3% +14.5% +12.5% 16 Operating income 3,174 3,582 2,978 14 Operating margin +12.7% +14.1% +11.8% 14 Net Income 2,151 2,596 1,828 16 Earnings per share (published) 12.05 14.56 10.22 16 Dividend per share 5.45 7.28 3.1 16 Net debt 1,915 2,736 496 16 Free cash flow 1,636 1,987 1,330 16 Full year 2023 Last update: January 10, 2022 In million of euros Average Maximum value Minimum value Responses Sales 25,901 27,065 23,979 16 Segment operating income 3,565 4,033 3,324 16 Segment operating margin +13.8% +15.3% +12.9% 16 Operating income 3,420 3,943 3,147 14 Operating margin +13.2% +14.9% +12.3% 14 Net Income 2,332 2,714 1,951 16 Earnings per share (published) 13.06 15.22 10.91 16 Dividend per share 5.99 7.61 3.4 16 Net debt 1,005 2,138 -418 16 Free cash flow 1,974 2,304 1,732 16 Share coverage FINANCIAL INSTITUTIONS Bank of America Merrill Lynch Barclays Citi CM CIC Deutsche Bank Equita Exane BNP Paribas Goldman Sachs HSBC Jefferies JP Morgan Kepler Cheuvreux Morgan Stanley Oddo Securities Royal Bank of Canada (RBC) Stifel UBS Consensus The Earnings consensus is a compound of estimates of Michelin’s financial results prepared by stockbrokers’s financial analyst teams. This information is supplied by Michelin's Investor Relations Department.. The consensus is calculated on the basis of data published by financial analysts who monitor the Michelin share or are directly collected from them. The consensus respects the presentation of the Michelin Group's segmental information: Reporting Segment RS1: Automotive and related distribution (including Michelin Travel Partner and other Experiences activities) Reporting Segment RS2: Road transportation and related distribution Reporting Segment RS3: Specialty business and related distribution - Mining, Off the road, Two-wheel and aircraft tires, High-Tech Materials, Michelin Lifestyle Ltd The consensus is provided by Michelin for information purposes only. The fact that this consensus can be found on Michelin’s website in no way signifies validation or approval by Michelin of any or all of the estimates presented. This information should not be construed as an invitation to buy or sell shares or to enter into any type of transaction whatsoever. The Michelin share being exclusively traded in France on the Premier Marché of Paris Euronext, before engaging in any transactions, Michelin therefore invites you to consult your financial advisor. Key figures En savoir plus Market trends En savoir plus
