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Consensus

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

    • 17 Oct 2023 -  Updated on 09 Oct 2026

Download document - Consensus

Third quarter 2026

Last Updated: October 9, 2026
Third quarter 2026
in million eurosAverageMaximum valueMinimum valueResponses
Sales6 5466 7236 49011
Volume0,6%2,3%0,0%11
Price-Mix1,7%2,6%0,9%11
Currency1,1%2,5%0,3%11
Scope1,2%2,2%0,0%11
Non-tire0,3%1,5%-0,4%11
Consumer (PC&LT + related distribution) sales3 5303 6623 47310
Transportation (Truck + related distribution) sales1 5661 6131 52410
Specialties (Mining, Beyond-Road, Aircraft) sales1 0581 13098110
PCS sales39746031910

Full year 2026

Last Updated: October 9, 2026
Full year 2026
in million eurosAverageMaximum valueMinimum valueResponses
Sales26445267472608311
Volume effect0,2%0,8%-0,6%11
Price-mix effect1,5%1,9%0,8%11
Currency effect-1,1%-0,6%-2,0%11
Non tire0,1%0,8%-0,3%11
Scope1,1%2,0%0,0%11
Segment operating income28262950264211
Segment operating margin10,7%11,0%10,1%11
Operating income24642950219211
Operating margin9,3%11,0%8,4%11
Net Income16672088149611
Earnings per share (published)2,433,002,1110
Dividend per share1,341,501,0811
Net debt28474204-344210
Free cash flow15801807138911
Consumer (PC&LT + related distribution) sales14464147601423411
Consumer operating income16911771160210
Consumer operating margin11,7%12,0%11,2%10
Transportation (Truck + related distribution) sales59826236584211
Transportation operating income32335327710
Transportation operating margin5,4%6,0%4,7%10
Specialties (Other activities) sales44234537417111
Specialties operating income59564554910
Specialties operating margin13,5%14,5%12,2%10
PCS (Other activities) sales15761695141311
PCS operating income21824116510
PCS operating margin13,8%15,4%10,8%10
TARGET PRICE34,842,028,017

Full year 2027

Last Updated: October 9, 2026
Full year 2027
in million eurosAverageMaximum valueMinimum valueResponses
Sales27505285182663111
Volume effect0,9%2,0%-0,4%11
Price-mix effect2,1%3,8%1,0%11
Currency effect0,4%1,1%-0,1%11
Non tire0,2%0,6%0,0%11
Scope0,4%0,8%0,0%11
Segment operating income31633489289911
Segment operating margin11,5%12,8%10,6%11
Operating income29713398262411
Operating margin10,8%12,0%9,6%11
Net Income20532425167011
Earnings per share (published)3,063,592,6110
Dividend per share1,501,701,2411
Net debt27884821-279610
Free cash flow17132030139711

Share coverage

FINANCIAL INSTITUTIONS

  • AlphaValue

  • Bank of America

  • Barclays

  • Berenberg

  • Citi

  • CIC

  • Deutsche Bank

  • Equita

  • BNP Paribas Exane

  • Intesa Sanpaolo

  • Jefferies

  • JP Morgan

  • Kepler Cheuvreux

  • Morgan Stanley

  • Oddo BHF

  • Bernstein

  • UBS


Consensus

The Earnings consensus is a compound of estimates of Michelin’s financial results prepared by broker’s financial analyst teams. This information is supplied by Michelin's Investor Relations Department.

The consensus is calculated on the basis of data collected by financial analysts who monitor the Michelin share.

The consensus respects the presentation of the Michelin Group's segment information:

  • Consumer: Automotive, Two-wheel and related distribution, Lifestyle

  • Transportation: Road transportation and related distribution, Connected Solutions

  • Specialties: Mining, Beyond-Road, Aircraft tires, related distribution

  • Polymer Composite Solutions

 

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.

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Agenda

Upcoming Events
Past Events
  • October 1, 2026

    6PM - Michelin Pre-close call Q3 2026 (for sell-side analysts)

  • July 27, 2026

    First-Half Results 2026

  • July 2, 2026

    Michelin Pre-close call H1 2026 (for sell-side analysts)

See All Events