Consensus estimates Read the forecasts and recommendations of analysts on the value of the Michelin share Imprimer Full year consensus estimates 03/08/2023 | XLSX - 19.5 Ko Annual consensus estimates Full Year 2023 Last update: March 8, 2023 In million of euros Average Maximum value Minimum value Responses Sales 29,118 29,703 28,375 11 Volume effect -1.8% -0.1% -3.7% 11 Price-mix effect +3.2% +5.2% +1.8% 11 Currency effect -0.5% +2.0% -1.9% 11 Non tire effect +0.8% +1.5% +0.3% 10 Scope effect +0.1% +0.5% +0.0% 11 Segment operating income 3,338 3,594 3,067 11 Segment operating margin +11.5% +12.3% +10.8% 11 Operating income 3,224 3,599 2,847 11 Operating margin +11.1% +12.1% +10.0% 11 Net Income 2,133 2,295 1,865 11 Earnings per share (published) 2.99 3.22 2.59 11 Dividend per share 1.39 1.61 1.25 11 Net debt 3,326 3,808 2,536 11 Free cash flow 1,744 1,967 1,553 11 SR1 (PC & LT + related distribution) sales 14,079 14,562 13,517 11 SR1 operating income 1,565 1,825 1,394 10 SR1 operating margin +11.1% +13.1% +10.2% 10 SR2 (Truck + related distribution) sales 7,613 7,872 7,387 11 SR2 operating income 624 715 554 10 SR2 operating margin +8.2% +9.4% +7.5% 10 SR3 (Other activities) sales 7,384 7,660 6,846 11 SR3 operating income 1,124 1,284 741 10 SR3 operating margin +15.2% +16.8% +10.0% 10 TARGET PRICE 33.1 42.5 22 18 Full year 2024 Last update: March 8, 2023 In million of euros Average Maximum value Minimum value Responses Sales 29,836 31,129 28,177 11 Volume effect +1.7% +3.1% -0.5% 11 Price-mix effect +0.1% +1.5% -1.5% 11 Currency effect +0.0% +0.1% +0.0% 11 Non tire effect +0.6% +1.5% +0.0% 11 Scope effect +0.0% +0.0% +0.0% 11 Segment operating income 3,595 3,811 3,155 11 Segment operating margin +12.0% +12.7% +11.2% 11 Operating income 3,489 3,957 2,937 11 Operating margin +11.7% +12.7% +10.4% 11 Net Income 2,340 2,482 1,978 11 Earnings per share (published) 3.28 3.47 2.75 11 Dividend per share 1.51 1.73 1.25 11 Net debt 2,585 3,060 1,549 11 Free cash flow 1,880 2,058 1,529 11 Full year 2025 Last update: March 8, 2023 In million of euros Average Maximum value Minimum value Responses Sales 30,377 31,575 27,846 10 Segment operating income 3,769 4,116 3,379 10 Segment operating margin +12.4% +13.1% +11.7% 10 Operating income 3,627 4,016 3,162 10 Operating margin +11.9% +12.8% +11.1% 10 Net Income 2,474 2,742 2,177 10 Earnings per share (published) 3.47 3.84 3.02 10 Dividend per share 1.6 1.88 1.3 10 Net debt 1,771 2,760 565 10 Free cash flow 2,117 2,323 1,903 10 Share coverage FINANCIAL INSTITUTIONS Alpha Value 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. Financial key figures Read more Market trends Read more
