ML Fair Value & Analysis

Consumer Cyclical · FR · Market cap €22.9B

A solid business, screening 11% undervalued on our models.

What matters now

• A fairly wide model range (€26.00 to €56.17) leaves room in how you read the outcome.
• Our model range runs from €26.00 (bear) to €56.17 (bull), base €37.91. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 62/100 (solid quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range €18.90 – €35.27 · fair‑value band €26.00 – €56.17 · the €34.17 price screens below the €37.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

ML (ML) currently trades at €34.17, while our model-based Fair Value estimate is €37.91, implying the stock looks roughly 11.0% undervalued today. We read business quality at 62/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, ML generated revenue of €23.8B at a net margin of 7.8%. Revenue grew 13.4% year over year. It earns a return on equity of 13.4%. Net debt stands at €2.9B. Fundamentals as of Jul 11, 2026

Our scenario range runs from €26.00 (bear case) to €56.17 (bull case); at €34.17, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 51% fair-value upside, at 11%, ML screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (€41.23) versus Dividend Discount (€15.96). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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

Full company description

Compagnie Générale des Établissements Michelin Société en commandite par actions manufactures and sells tires worldwide. The company offers tires for private use covering cars, racing, biking, motorcycles, scooters, and mopeds; and professional use, such as freight and people transport, agriculture, construction and industrial, mining and quarries, corporate fleets, tradesmen and professionals, civil and military operations, light rail, and aircraft. It is also involved in the provision of tire-related services, including development of mobility solutions for fleet managers, vehicle manufacturers, farmers, distributors, and individuals; mobility services, such as road maps, mobile apps, itineraries, and travel guides; lifestyle products comprising car and bike accessories, shoe soles, and sports and leisure gears; and high-tech materials that include 3D metal printing, specialty, rubber, biosourced, and recycled materials. Compagnie Générale des Établissements Michelin Société en commandite par actions was incorporated in 1863 and is based in Clermont-Ferrand, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ML reported revenue of €26.0B in FY2025 versus €23.8B in FY2021, a compound +2.2%/yr. Reported net income was €1.7B in FY2025, compounding −2.5%/yr from FY2021.

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Peer Group

Consumer Discretionary · 3558 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Automobiles & Auto Parts” was too small, so the broader sector is used.)

Valuation Multiples vs Consumer Discretionary median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.