Michelin (ML)

Index:

CAC 40

  31.12
   
  • Change Today:
     0.19
  • 52 Week High:  38.37
  • 52 Week Low:  29.81
  • Currency: Euro
  • Shares Issued: 714.96m
  • Volume: 61,087
  • Market Cap:  22,247m
  • Beta: 0.55

Fundamentals - based on IFRS

    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Income Statement 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
Revenue 28,343.00 28,590.00 23,795.00 20,469.00 24,135.00
Operating Profit/(Loss) 2,652.00 3,021.00 2,777.00 1,403.00 2,691.00
Profit Before Tax 2,490.00 2,656.00 2,471.00 979.00 2,236.00
Profit After Tax 1,983.00 2,009.00 1,845.00 625.00 1,730.00
           
Earnings per Share - Basic 277.00¢ 281.00¢ 258.00¢ 352.00¢ 969.00¢
Earnings per Share - Adjusted 277.00¢ 281.00¢ 258.00¢ 352.00¢ 969.00¢
           
Dividend per Share 135.00¢ 125.00¢ 112.50¢ 230.00¢ 200.00¢
    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Balance Sheet 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Assets          
Non-Current Assets          
Property, Plant & Equipment 13,342.00 13,146.00 12,265.00 11,904.00 13,169.00
Intangible Assets 4,776.00 4,233.00 4,097.00 4,116.00 4,668.00
Other Non-Current Assets 3,408.00 2,893.00 3,258.00 2,535.00 2,697.00
  21,526.00 20,272.00 19,620.00 18,555.00 20,534.00
Current Assets          
Inventories 5,447.00 6,318.00 5,272.00 3,959.00 4,694.00
Cash at Bank & in Hand 2,515.00 2,584.00 4,482.00 4,747.00 1,466.00
Other Current Assets 5,707.00 6,172.00 5,327.00 4,376.00 4,983.00
  13,669.00 15,074.00 15,081.00 13,082.00 11,143.00
           
Other Assets n/a n/a n/a n/a n/a
Total Assets 35,195.00 35,346.00 34,701.00 31,637.00 31,677.00
Current Liabilities          
Borrowings 832.00 2,059.00 1,911.00 1,768.00 1,158.00
Other Current Liabilities 6,912.00 6,979.00 7,104.00 5,368.00 5,935.00
           
Current Liabilities 7,744.00 9,038.00 9,015.00 7,136.00 7,093.00
           
Net Current Assets c5,925.00 c6,036.00 c6,066.00 c5,946.00 c4,050.00
           
Borrowings 5,410.00 5,395.00 6,091.00 6,970.00 5,923.00
Other Non-Current Liabilities 4,083.00 3,797.00 4,624.00 4,900.00 5,432.00
Non-Current Liabilities 9,493.00 9,192.00 10,715.00 11,870.00 11,355.00
           
Other Liabilities n/a n/a n/a n/a n/a
Total Liabilities 17,237.00 18,230.00 19,730.00 19,006.00 18,448.00
           
Net Assets 17,958.00 17,116.00 14,971.00 12,631.00 13,229.00
           
Shareholders Funds 17,958.00 17,116.00 14,971.00 12,631.00 13,226.00
           
Minority Interests/Other Equity n/a n/a n/a n/a 3.00
Total Equity 17,958.00 17,116.00 14,971.00 12,631.00 13,229.00
Cash Flow 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Net Cash Flow From Operating Activities 5,287.00 1,931.00 2,906.00 3,366.00 3,321.00
Net Cash Flow from Investing Activities (2,930.00) (1,945.00) (1,751.00) (1,388.00) (2,247.00)
Net Cash Flow from Financing Activities (2,336.00) (1,860.00) (1,420.00) 1,303.00 (1,736.00)
Net Increase/Decrease In Cash 21.00 (1,874.00) (265.00) 3,281.00 (662.00)
Ratios - based on IFRS 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19
Continuing Operations          
PE Ratio - Adjusted 11.7 9.2 55.9 29.8 11.3
PEG - Adjusted n/a 1.0 n/a n/a 2.8
Earnings per Share Growth - Adjusted -1% 9% -27% -64% 4%
Dividend Cover 2.05 2.25 2.29 1.53 4.84
Revenue per Share 3,964.29¢ 3,998.84¢ 33.59¢ 2,862.97¢ 3,375.72¢
Pre-Tax Profit per Share 348.27¢ 371.49¢ 3.49¢ 136.93¢ 312.75¢
Operating Margin 9.36% 10.57% 11.67% 6.85% 11.15%
Return on Capital Employed 12.82% 13.06% 0.13% 5.67% 14.29%
           
Dividend Yield 4.2% 4.8% 0.8% 2.2% 1.8%
Dividend per Share Growth 8.00% 11.11% (51.09%) 15.00% (45.95%)
Operating Cash Flow per Share 739.48¢ 270.09¢ 406.46¢ 470.80¢ 464.50¢
Cash Incr/Decr per Share 2.94¢ (262.11¢) (0.37¢) 458.91¢ (92.59¢)
Net Asset Value per Share (exc. Intangibles) 1,843.74¢ 1,801.92¢ 1,520.93¢ 1,190.98¢ 1,197.41¢
Net Gearing 20.75% 28.45% 23.51% 31.60% 42.45%

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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