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ML

Compagnie Générale des Établissements Michelin Société en commandite par actionsENXTPA:ML Stock Report

Market Cap

€22.9b

7D

-6.6%

1Y

18.6%

Updated

28 Nov, 2021

Data

Company Financials +
ML fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance4/6
Financial Health5/6
Dividends4/6

ML Stock Overview

Compagnie Générale des Établissements Michelin Société en commandite par actions manufactures and sells tires worldwide.

Compagnie Générale des Établissements Michelin Société en commandite par actions Competitors

Continental

XTRA:CON

€19.5b

Lennox International

NYSE:LII

US$11.6b

Pirelli & C

BIT:PIRC

€5.5b

Trelleborg

OM:TREL B

kr56.0b

Price History & Performance

Summary of all time highs, changes and price drops for Compagnie Générale des Établissements Michelin Société en commandite par actions
Historical stock prices
Current Share Price€128.40
52 Week High€145.10
52 Week Low€103.10
Beta1.06
1 Month Change-5.38%
3 Month Change-7.89%
1 Year Change18.61%
3 Year Change38.93%
5 Year Change27.13%
Change since IPO644.44%

Recent News & Updates

Nov 21
Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Has More To Do To Multiply In Value Going Forward

Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Has More To Do To Multiply In Value Going Forward

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Oct 14
A Look At The Fair Value Of Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML)

A Look At The Fair Value Of Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML)

In this article we are going to estimate the intrinsic value of Compagnie Générale des Établissements Michelin Sociét...

Oct 01
Why Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Could Be Worth Watching

Why Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Could Be Worth Watching

Today we're going to take a look at the well-established Compagnie Générale des Établissements Michelin Société en...

Sep 05
We Think Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Can Stay On Top Of Its Debt

We Think Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Can Stay On Top Of Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...

Aug 22
Returns At Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Appear To Be Weighed Down

Returns At Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML) Appear To Be Weighed Down

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things...

Shareholder Returns

MLFR Auto ComponentsFR Market
7D-6.6%-8.1%-4.6%
1Y18.6%0.3%21.5%

Return vs Industry: ML exceeded the French Auto Components industry which returned 0.3% over the past year.

Return vs Market: ML underperformed the French Market which returned 21.5% over the past year.

Price Volatility

Is ML's price volatile compared to industry and market?
ML volatility
ML Average Weekly Movement3.4%
Auto Components Industry Average Movement5.1%
Market Average Movement4.6%
10% most volatile stocks in FR Market9.3%
10% least volatile stocks in FR Market2.6%

Stable Share Price: ML is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: ML's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1863117,540Florent Menegauxhttps://www.michelin.com

Compagnie Générale des Établissements Michelin Société en commandite par actions manufactures and sells tires worldwide. It operates through three segments: Automotive and Related Distribution, Road Transportation and Related Distribution, and Specialty Businesses and Related Distribution. The company offers tires for private use covering cars, motorcycles, bikes, scooters, and mopeds; and professional use, such as freight and passenger transport, tradesmen, professional and UV fleets, civil engineering, agriculture, aircrafts, surface mining, and metros and trams.

Compagnie Générale des Établissements Michelin Société en commandite par actions Fundamentals Summary

How do Compagnie Générale des Établissements Michelin Société en commandite par actions's earnings and revenue compare to its market cap?
ML fundamental statistics
Market Cap€22.92b
Earnings (TTM)€1.79b
Revenue (TTM)€22.30b

12.8x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ML income statement (TTM)
Revenue€22.30b
Cost of Revenue€15.47b
Gross Profit€6.83b
Expenses€5.04b
Earnings€1.79b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Apr 26, 2022

Earnings per share (EPS)10.00
Gross Margin30.62%
Net Profit Margin8.01%
Debt/Equity Ratio50.8%

How did ML perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

23%

Payout Ratio

Valuation

Is Compagnie Générale des Établissements Michelin Société en commandite par actions undervalued compared to its fair value and its price relative to the market?

7.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ML (€128.4) is trading below our estimate of fair value (€138.11)

Significantly Below Fair Value: ML is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ML is poor value based on its PE Ratio (12.8x) compared to the French Auto Components industry average (10.9x).

PE vs Market: ML is good value based on its PE Ratio (12.8x) compared to the French market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: ML is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: ML's PB Ratio (1.7x) is in line with the FR Auto Components industry average.


Future Growth

How is Compagnie Générale des Établissements Michelin Société en commandite par actions forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

12.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ML's forecast earnings growth (12.1% per year) is above the savings rate (0.3%).

Earnings vs Market: ML's earnings (12.1% per year) are forecast to grow faster than the French market (11.9% per year).

High Growth Earnings: ML's earnings are forecast to grow, but not significantly.

Revenue vs Market: ML's revenue (4.9% per year) is forecast to grow slower than the French market (6.5% per year).

High Growth Revenue: ML's revenue (4.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ML's Return on Equity is forecast to be low in 3 years time (14.3%).


Past Performance

How has Compagnie Générale des Établissements Michelin Société en commandite par actions performed over the past 5 years?

-7.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ML has high quality earnings.

Growing Profit Margin: ML's current net profit margins (8%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: ML's earnings have declined by 7.3% per year over the past 5 years.

Accelerating Growth: ML's earnings growth over the past year (136.9%) exceeds its 5-year average (-7.3% per year).

Earnings vs Industry: ML earnings growth over the past year (136.9%) exceeded the Auto Components industry 84.4%.


Return on Equity

High ROE: ML's Return on Equity (13%) is considered low.


Financial Health

How is Compagnie Générale des Établissements Michelin Société en commandite par actions's financial position?


Financial Position Analysis

Short Term Liabilities: ML's short term assets (€13.5B) exceed its short term liabilities (€7.7B).

Long Term Liabilities: ML's short term assets (€13.5B) exceed its long term liabilities (€10.7B).


Debt to Equity History and Analysis

Debt Level: ML's net debt to equity ratio (19.9%) is considered satisfactory.

Reducing Debt: ML's debt to equity ratio has increased from 30.8% to 50.8% over the past 5 years.

Debt Coverage: ML's debt is well covered by operating cash flow (55.4%).

Interest Coverage: ML's interest payments on its debt are well covered by EBIT (13.4x coverage).


Balance Sheet


Dividend

What is Compagnie Générale des Établissements Michelin Société en commandite par actions's current dividend yield, its reliability and sustainability?

1.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ML's dividend (1.79%) is higher than the bottom 25% of dividend payers in the French market (1.33%).

High Dividend: ML's dividend (1.79%) is low compared to the top 25% of dividend payers in the French market (4.07%).


Stability and Growth of Payments

Stable Dividend: ML's dividend payments have been volatile in the past 10 years.

Growing Dividend: ML's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (23%), ML's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ML's dividends in 3 years are forecast to be well covered by earnings (42.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Florent Menegaux (59 yo)

2.5yrs

Tenure

€2,162,840

Compensation

Mr. Florent Menegaux serves as a Chief Executive Officer at Compagnie Générale des Établissements Michelin since May 15, 2019 and its Managing General Partner since May 18, 2018 also its Managing Chairman...


CEO Compensation Analysis

Compensation vs Market: Florent's total compensation ($USD2.45M) is below average for companies of similar size in the French market ($USD3.60M).

Compensation vs Earnings: Florent's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ML's management team is considered experienced (2.7 years average tenure).


Board Members

Experienced Board: ML's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Compagnie Générale des Établissements Michelin Société en commandite par actions's employee growth, exchange listings and data sources


Key Information

  • Name: Compagnie Générale des Établissements Michelin Société en commandite par actions
  • Ticker: ML
  • Exchange: ENXTPA
  • Founded: 1863
  • Industry: Tires and Rubber
  • Sector: Automobiles
  • Market Cap: €22.923b
  • Shares outstanding: 178.53m
  • Website: https://www.michelin.com

Number of Employees


Location

  • Compagnie Générale des Établissements Michelin Société en commandite par actions
  • 23, Place Des Carmes Dechaux
  • Cedex 9
  • Clermont-Ferrand
  • Auvergne
  • 63040
  • France

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/28 18:54
End of Day Share Price2021/11/26 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.