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Consensus

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

2024 3rd quarter

Last Updated: September 24, 2024
in million eurosConsensusMaximum valueMinimum valueResponses
Sales6 9567 1736 79112
Volume-3,2%-1,1%-5,0%12
Price-Mix1,8%2,7%0,8%11
Currency-0,6%0,0%-1,6%11
Scope0,3%0,9%-0,5%11
Non-tire-0,1%0,5%-0,5%11
SR1 (PC&LT + related distribution) sales3 5673 8773 42011
SR2 (Truck + related distribution) sales1 7471 8441 66711
SR3 (Other activities) sales1 6571 7611 45411

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FULL YEAR 2024

Last Updated: September 24, 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales27 68727 99327 34913
Volume effect-3,5%-2,5%-5,0%13
Price-mix effect1,7%3,3%1,0%13
Currency effect-0,9%-0,5%-1,6%13
Non tire effect0,0%0,5%-0,4%13
Scope effect0,3%1,0%0,0%13
Segment operating income3 5493 6413 43113
Segment operating margin12,8%13,1%12,5%13
Operating income3 2933 4113 12913
Operating margin11,9%12,2%11,3%13
Net Income2 3172 5272 18913
Earnings per share (published)3,253,533,1113
Dividend per share1,571,71,4213
Net debt2 9844 5201 36412
Free cash flow1 7402 1381 57113
SR1 (PC & LT + related distribution) sales14 24114 60014 06413
SR1 operating income1 8881 9751 68813
SR1 operating margin13,3%13,8%12,0%13
SR2 (Truck + related distribution) sales6 7686 9506 57013
SR2 operating income56262344913
SR2 operating margin8,3%9,2%6,6%13
SR3 (Other activities) sales6 6786 8536 39413
SR3 operating income1 0981 29099713
SR3 operating margin16,5%19,5%15,6%13
TARGET PRICE37,8482619

FULL YEAR 2025

Last Updated: September 24, 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales28 57429 20927 74413
Volume effect1,6%2,8%0,3%13
Price-mix effect1,2%2,5%-0,5%13
Currency effect-0,3%0,0%-1,1%13
Non tire effect0,6%1,2%0,0%13
Scope effect7,8%100,0%0,0%13
Segment operating income3 8113 9433 51613
Segment operating margin13,3%13,7%12,4%13
Operating income3 6153 7623 28613
Operating margin12,6%13,1%11,8%13
Net Income2 5642 7342 31913
Earnings per share (published)3,633,913,3313
Dividend per share1,751,901,6513
Net debt2 4623 99845612
Free cash flow2 0792 6221 47813

FULL YEAR 2026

Last Updated: September 24, 2024
In million of eurosAverageMaximum valueMinimum valueResponses
Sales29 49230 60827 98413
Segment operating income4 0644 2653 56213
Segment operating margin13,8%14,5%12,4%13
Operating income3 8684 1193 33213
Operating margin13,1%14,0%11,9%13
Net Income2 7592 9412 35613
Earnings per share (published)3,934,203,4313
Dividend per share1,902,121,7213
Net debt1 8003 856-10312
Free cash flow2 2312 7531 81513

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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  • July 24, 2024

    First-Half Results

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    Capital Markets Day

  • May 17, 2024

    2024 Annual General Meeting

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