Consensus estimates Read the forecasts and recommendations of analysts on the value of the Michelin share Imprimer Full year consensus estimates 11/16/2022 | XLSX - 16.41 Ko Annual consensus estimates Full Year 2022 Last update: November 16, 2022 In million of euros Average Maximum value Minimum value Responses Sales 28,180 28,843 27,435 12 Volume effect -2.6% -1.5% -3.5% 11 Price-mix effect +12.8% +13.8% +10.9% 12 Currency effect +6.4% +7.2% +5.3% 12 Non tire effect +0.9% +1.1% +0.3% 10 Scope effect +0.9% +1.0% +0.7% 10 Segment operating income 3,346 3,429 3,088 12 Segment operating margin +11.9% +12.2% +11.3% 12 Operating income 3,091 3,267 2,802 12 Operating margin +11.0% +11.7% +10.2% 12 Net Income 2,077 2,221 1,884 12 Earnings per share (published) 2.91 3.1 2.64 12 Dividend per share 1.35 1.6 1.13 12 Net debt 3,228 3,705 2,479 12 Free cash flow 345 505 243 11 SR1 (PC & LT + related distribution) sales 13,953 14,240 13,558 11 SR1 operating income 1,694 1,765 1,628 10 SR1 operating margin +12.1% +12.7% +11.7% 10 SR2 (Truck + related distribution) sales 7,334 7,461 7,168 11 SR2 operating income 669 745 625 10 SR2 operating margin +9.1% +10.0% +8.6% 10 SR3 (Other activities) sales 6,908 7,130 6,446 11 SR3 operating income 977 1,052 786 10 SR3 operating margin +14.1% +15.0% +12.2% 10 TARGET PRICE 31 42.5 20 18 Full year 2023 Last update: November 16, 2022 In million of euros Average Maximum value Minimum value Responses Sales 29,110 30,860 27,736 12 Volume effect -1.4% +2.5% -4.7% 12 Price-mix effect +2.0% +5.0% -1.0% 12 Currency effect +2.0% +3.5% +0.0% 12 Non tire effect +0.5% +1.4% +0.0% 12 Scope effect +0.0% +0.0% +0.0% 12 Segment operating income 3,328 3,534 3,033 12 Segment operating margin +11.4% +12.3% +10.4% 12 Operating income 3,160 3,449 2,810 12 Operating margin +10.9% +12.0% +9.5% 12 Net Income 2,120 2,330 1,794 12 Earnings per share (published) 2.97 3.26 2.5 12 Dividend per share 1.41 1.61 1.16 12 Net debt 2,612 3,094 1,852 12 Free cash flow 1,695 2,069 1,227 12 Full year 2024 Last update: November 16, 2022 In million of euros Average Maximum value Minimum value Responses Sales 29,880 31,670 27,911 12 Segment operating income 3,529 3,829 3,099 12 Segment operating margin +11.8% +12.5% +11.1% 12 Operating income 3,382 3,889 2,881 12 Operating margin +11.3% +12.6% +10.1% 12 Net Income 2,272 2,486 1,971 12 Earnings per share (published) 3.18 3.48 2.74 12 Dividend per share 1.53 1.8 1.25 12 Net debt 1,829 2,448 1,273 12 Free cash flow 1,905 2,207 1,435 12 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
