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Consensus

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

2024 1st quarter

Last Updated: 17 Apr 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales6 6796 8436 61315
Volume-3,4%0,0%-4,4%15
Price-Mix0,4%0,9%-0,9%15
Currency-1,8%-1,0%-2,4%15
Non tire0,3%1,2%0,0%14
Scope0,5%1,0%0,0%15
SR1 (PC&LT + related distribution) sales3 4063 4753 31213
SR2 (Truck + related distribution) sales1 5951 6371 53013
SR3 (Other activities) sales1 6791 7541 60813

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FULL YEAR 2024

Last Updated: 17 Apr 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales28 54729 18227 82015
Volume effect0,1%1,5%-0,9%15
Price-mix effect0,5%1,5%-2,0%15
Currency effect-0,8%-0,1%-1,2%15
Non tire effect0,6%1,8%0,0%15
Scope effect0,4%0,8%0,0%15
Segment operating income3 6273 8133 51215
Segment operating margin12,7%13,1%12,1%15
Operating income3 4323 7133 27315
Operating margin12,0%12,7%11,4%15
Net Income2 3762 6582 19915
Earnings per share (published)3,333,723,0715
Dividend per share1,591,861,3515
Net debt2 5623 5101 19815
Free cash flow1 8332 3031 28015
SR1 (PC & LT + related distribution) sales14 55215 00013 80315
SR1 operating income1 9532 0771 77114
SR1 operating margin13,4%14,2%12,1%14
SR2 (Truck + related distribution) sales6 9877 1506 85415
SR2 operating income50460045514
SR2 operating margin7,2%8,4%6,5%14
SR3 (Other activities) sales6 9897 3376 45715
SR3 operating income1 1571 3101 00414
SR3 operating margin16,6%18,2%14,6%14
TARGET PRICE35,445,026,019

FULL YEAR 2025

Last Updated: 17 Apr 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales29 32630 33228 57715
Volume effect1,7%3,0%0,5%15
Price-mix effect0,6%2,0%-1,0%15
Currency effect-0,1%0,1%-1,0%15
Non tire effect0,6%1,3%0,0%15
Scope effect0,0%0,8%0,0%15
Segment operating income3 7864 0203 60415
Segment operating margin12,9%13,5%12,2%15
Operating income3 5823 9143 30915
Operating margin12,2%13,1%11,5%15
Net Income2 4992 8272 23715
Earnings per share (published)3,513,963,1315
Dividend per share1,691,981,4015
Net debt1 9533 56142415
Free cash flow1 9762 2491 48815

FULL YEAR 2026

Last Updated: 17 Apr 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales30 10531 14028 65415
Segment operating income3 9384 2803 67015
Segment operating margin13,1%14,2%11,8%15
Operating income3 7564 1223 42415
Operating margin12,5%13,5%11,3%15
Net Income2 6322 9982 26715
Earnings per share (published)3,714,203,1715
Dividend per share1,802,101,5015
Net debt1 1763 590-51715
Free cash flow2 1732 5971 78315

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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Agenda

Upcoming Events
Past Events
  • April 24, 2024

    1st Quarter Sales

  • April 17, 2024

    Media day

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