Michelin (ML)

Index:

CAC 40

  33.32
   
  • Change Today:
     -0.15
  • 52 Week High:  38.37
  • 52 Week Low:  28.66
  • Currency: Euro
  • Shares Issued: 709.85m
  • Volume: 1,802,828
  • Market Cap:  23,652m
  • Beta: 0.82

Fundamentals - based on IFRS

    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Income Statement 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Continuing Operations          
Revenue 27,193.00 28,343.00 28,590.00 23,795.00 20,469.00
Operating Profit/(Loss) 2,631.00 2,652.00 3,021.00 2,777.00 1,403.00
Profit Before Tax 2,445.00 2,490.00 2,656.00 2,471.00 979.00
Profit After Tax 1,890.00 1,983.00 2,009.00 1,845.00 625.00
           
Earnings per Share - Basic 265.00¢ 277.00¢ 281.00¢ 258.00¢ 352.00¢
Earnings per Share - Adjusted 265.00¢ 277.00¢ 281.00¢ 258.00¢ 352.00¢
           
Dividend per Share 138.00¢ 135.00¢ 125.00¢ 112.50¢ 230.00¢
    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Balance Sheet 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Assets          
Non-Current Assets          
Property, Plant & Equipment 13,982.00 13,342.00 13,146.00 12,265.00 11,904.00
Intangible Assets 4,949.00 4,776.00 4,233.00 4,097.00 4,116.00
Other Non-Current Assets 3,082.00 3,408.00 2,893.00 3,258.00 2,535.00
  22,013.00 21,526.00 20,272.00 19,620.00 18,555.00
Current Assets          
Inventories 5,699.00 5,447.00 6,318.00 5,272.00 3,959.00
Cash at Bank & in Hand 3,936.00 2,515.00 2,584.00 4,482.00 4,747.00
Other Current Assets 5,704.00 5,707.00 6,172.00 5,327.00 4,376.00
  15,339.00 13,669.00 15,074.00 15,081.00 13,082.00
           
Other Assets n/a n/a n/a n/a n/a
Total Assets 37,352.00 35,195.00 35,346.00 34,701.00 31,637.00
Current Liabilities          
Borrowings 1,633.00 832.00 2,059.00 1,911.00 1,768.00
Other Current Liabilities 7,077.00 6,912.00 6,979.00 7,104.00 5,368.00
           
Current Liabilities 8,710.00 7,744.00 9,038.00 9,015.00 7,136.00
           
Net Current Assets c6,629.00 c5,925.00 c6,036.00 c6,066.00 c5,946.00
           
Borrowings 5,806.00 5,410.00 5,395.00 6,091.00 6,970.00
Other Non-Current Liabilities 4,202.00 4,083.00 3,797.00 4,624.00 4,900.00
Non-Current Liabilities 10,008.00 9,493.00 9,192.00 10,715.00 11,870.00
           
Other Liabilities n/a n/a n/a n/a n/a
Total Liabilities 18,718.00 17,237.00 18,230.00 19,730.00 19,006.00
           
Net Assets 18,634.00 17,958.00 17,116.00 14,971.00 12,631.00
           
Shareholders Funds 18,634.00 17,958.00 17,116.00 14,971.00 12,631.00
           
Minority Interests/Other Equity n/a n/a n/a n/a n/a
Total Equity 18,634.00 17,958.00 17,116.00 14,971.00 12,631.00
Cash Flow 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Net Cash Flow From Operating Activities 4,336.00 5,287.00 1,931.00 2,906.00 3,366.00
Net Cash Flow from Investing Activities (2,111.00) (2,930.00) (1,945.00) (1,751.00) (1,388.00)
Net Cash Flow from Financing Activities (804.00) (2,336.00) (1,860.00) (1,420.00) 1,303.00
Net Increase/Decrease In Cash 1,421.00 21.00 (1,874.00) (265.00) 3,281.00
Ratios - based on IFRS 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Continuing Operations          
PE Ratio - Adjusted 12.0 11.7 9.2 55.9 29.8
PEG - Adjusted n/a n/a 1.0 n/a n/a
Earnings per Share Growth - Adjusted -4% -1% 9% -27% -64%
Dividend Cover 1.92 2.05 2.25 2.29 1.53
Revenue per Share 3,830.81¢ 3,992.82¢ 4,027.61¢ 33.84¢ 2,883.57¢
Pre-Tax Profit per Share 344.44¢ 350.78¢ 374.16¢ 3.51¢ 137.92¢
Operating Margin 9.68% 9.36% 10.57% 11.67% 6.85%
Return on Capital Employed 11.57% 12.82% 13.06% 0.13% 5.67%
           
Dividend Yield 4.3% 4.2% 4.8% 0.8% 2.2%
Dividend per Share Growth 2.22% 8.00% 11.11% (51.09%) 15.00%
Operating Cash Flow per Share 610.83¢ 744.80¢ 272.03¢ 409.38¢ 474.19¢
Cash Incr/Decr per Share 200.18¢ 2.96¢ (264.00¢) (0.38¢) 462.21¢
Net Asset Value per Share (exc. Intangibles) 1,927.87¢ 1,857.01¢ 1,814.89¢ 1,531.87¢ 1,199.55¢
Net Gearing 18.80% 20.75% 28.45% 23.51% 31.60%

Key

* GAAP

a. Includes discontinued activities

b. Including assets due in more than one year

c. Not disclosed under IFRS

d. Total fixed assets

e. Includes borrowings

f. Included in cash flow from operating activities under IFRS

g. Included in net cash from investing activities under IFRS

h. Pre-tax

i. Capital expenditure

j. Based on operating cash flow before tax

k. Issue of ordinary shares

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: Forecast figures based on normalised accounts.

 

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