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Consensus

Discover analysts' forecasts and recommendations on the value of Michelin shares.

2024 1st quarter

Last Updated: 07 Mar 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales69257161664613
Volume-0,4%1,8%-3,5%13
Price-Mix0,5%2,5%-0,9%13
Currency-1,6%0,0%-4,2%13
Non tire0,5%1,3%0,0%13
Scope0,6%1,2%0,0%13
SR1 (PC&LT + related distribution) sales34853675332910
SR2 (Truck + related distribution) sales16671775152310
SR3 (Other activities) sales17581899150010

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FULL YEAR 2024

Last Updated: 07 Mar 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales28704291822822016
Volume effect0,4%2,6%-1,4%16
Price-mix effect0,5%1,5%-0,9%16
Currency effect-0,7%0,4%-1,5%16
Non tire effect0,5%1,3%0,0%16
Scope effect0,6%1,8%0,0%16
Segment operating income36233813351216
Segment operating margin12,6%13,1%12,1%16
Operating income34263713329015
Operating margin11,9%12,7%11,4%15
Net Income23742658221116
Earnings per share (published)3,333,723,0916
Dividend per share1,591,861,3516
Net debt26143510119816
Free cash flow18322303152016
SR1 (PC & LT + related distribution) sales14589150001418215
SR1 operating income19542102177114
SR1 operating margin13,4%14,6%12,0%14
SR2 (Truck + related distribution) sales70057150684015
SR2 operating income50160044514
SR2 operating margin7,1%8,5%6,4%14
SR3 (Other activities) sales70967600665715
SR3 operating income11661357103714
SR3 operating margin16,5%18,8%14,6%14
TARGET PRICE34,8422617

FULL YEAR 2025

Last Updated: 07 Mar 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales29391307372857716
Volume effect1,4%3,0%0,2%16
Price-mix effect0,4%2,0%-1,0%16
Currency effect-0,1%0,1%-0,6%16
Non tire effect0,5%1,3%0,0%16
Scope effect0,0%1,0%0,0%16
Segment operating income38024107356716
Segment operating margin12,9%14,0%12,2%16
Operating income35883914333015
Operating margin12,2%13,1%11,4%15
Net Income25192827225916
Earnings per share (published)3,553,963,1616
Dividend per share1,711,981,416
Net debt2016356124716
Free cash flow19842315153016

FULL YEAR 2026

Last Updated: 07 Mar 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales30081315532865415
Segment operating income39334367357115
Segment operating margin13,1%14,3%12,1%15
Operating income37524167333315
Operating margin12,5%13,6%11,3%15
Net Income26292998229015
Earnings per share (published)3,724,23,215
Dividend per share1,812,11,515
Net debt12213590-113115
Free cash flow21782663178315

Share coverage

FINANCIAL INSTITUTIONS

  • Alpha Value

  • Bank of America Merrill Lynch

  • Barclays

  • Citi

  • CM CIC

  • Deutsche Bank

  • Equita

  • Exane BNP Paribas

  • Goldman Sachs

  • HSBC

  • Intesa Sanpaolo

  • Jefferies

  • JP Morgan

  • Kepler Cheuvreux

  • Morgan Stanley

  • Oddo Securities

  • Société Générale

  • 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.

2023 Universal Registration Document

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