ML FINANCIAL STATEMENTS

Compagnie Generale des Etablissements Michelin SCA — balance sheet, income statement and cash flow trends

MLCompagnie Generale des Etablissements Michelin SCA

🇫🇷 France · PA · Consumer Cyclical · Automobiles & Auto Parts

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue26 B €-8.3%

Gross Profit7 B €-10.7%

Operating Income2.4 B €-32.0%

EBITDA4.6 B €-1.1%

Net Income1.7 B €-15.9%

Peer Comparison· Automobiles & Auto Parts

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ML	-4.4%	27.0%	17.9%	6.4%
HM-B	-5.4%	42.0%	17.5%	5.6%
WSM	1.3%	46.1%	23.5%	13.8%
ALL	-1.2%	58.4%	41.0%	23.4%
CASY	10.2%	24.6%	7.9%	4.1%
PHM	-5.9%	26.1%	16.6%	12.1%
Industry median	-4.4%	27.0%	17.9%	6.4%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
ML	-4.4%	27.0%	17.9%	6.4%
KER	-14.7%	72.6%	25.0%	0.5%
AC	0.6%	52.9%	21.3%	8.0%
STLAP	-2.1%	-2.7%	-9.9%	-14.5%
RNO	3.0%	19.1%	-10.1%	-18.9%
RMS	5.5%	68.9%	52.3%	28.3%
Industry median	-4.4%	27.0%	17.9%	6.4%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity18.1 B €52%
Current Liabilities7.5 B €21%
Long-term Liabilities9.4 B €27%

Key Figures

YoY change

Total Assets35 B €-0.5%

Total Liabilities16.9 B €-1.7%

Total Equity18.1 B €+0.7%

Cash & ST Investments4 B €+41.9%

Total Debt6.6 B €+5.9%

Net Debt2.9 B €-21.5%

Peer Comparison· Automobiles & Auto Parts

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ML	1.90	36.6%	0.57	51.6%
HM-B	1.07	227.4%	1.52	20.5%
WSM	1.34	79.9%	0.45	37.0%
ALL	1.60	30.7%	0.48	64.0%
CASY	1.01	73.2%	1.71	44.2%
PHM	5.48	18.6%	0.03	71.2%
Industry median	1.90	36.6%	0.57	51.6%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
ML	1.90	36.6%	0.57	51.6%
KER	1.34	160.5%	5.25	35.7%
AC	1.05	100.3%	2.55	36.5%
STLAP	1.02	85.8%	-0.96	27.4%
RNO	1.03	331.6%	-8.52	17.2%
RMS	4.99	12.5%	-1.21	77.5%
Industry median	1.90	36.6%	0.57	51.6%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow3.8 B €-12.6%

Capital Expenditures1.2 B €-29.6%

Free Cash Flow2.3 B €-16.7%

Dividends Paid-974 M €-318.1%

Peer Comparison· Automobiles & Auto Parts

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ML	14.7%	8.7%	4.5%	229.4%
HM-B	15.0%	10.9%	4.1%	268.3%
WSM	17.2%	13.9%	3.3%	124.4%
ALL	31.5%	26.1%	5.4%	134.5%
CASY	7.8%	4.1%	3.7%	192.8%
PHM	10.3%	9.8%	0.6%	85.0%
Industry median	14.7%	8.7%	4.5%	229.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
ML	14.7%	8.7%	4.5%	229.4%
KER	17.1%	11.5%	5.7%	3,488.9%
AC	14.6%	10.3%	4.3%	182.9%
STLAP	-3.0%	-9.0%	6.0%	20.8%
RNO	4.0%	-1.2%	5.3%	-21.4%
RMS	34.1%	27.6%	6.5%	120.5%
Industry median	14.7%	8.7%	4.5%	229.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.