P/E ratio for Michelin (ML.PA)
P/E ratio at the end of 2022: 8.63
According to Michelin's latest financial reports and stock price the company's current price-to-earnings ratio (TTM) is 12.3844. At the end of 2022 the company had a P/E ratio of 8.63.
P/E ratio history for Michelin from 2002 to 2022
PE ratio at the end of each year
| Year | P/E ratio | Change |
|---|---|---|
| 2022 | 8.63 | -30.26% |
| 2021 | 12.4 | -49.45% |
| 2020 | 24.5 | 146.08% |
| 2019 | 9.95 | 23.75% |
| 2018 | 8.04 | -24.15% |
| 2017 | 10.6 | -2.72% |
| 2016 | 10.9 | -15.38% |
| 2015 | 12.9 | 15.55% |
| 2014 | 11.2 | 22.18% |
| 2013 | 9.13 | 34.17% |
| 2012 | 6.80 | 57.11% |
| 2011 | 4.33 | -25.33% |
| 2010 | 5.80 | -88.89% |
| 2009 | 52.2 | 388.69% |
| 2008 | 10.7 | 7.87% |
| 2007 | 9.90 | -28.69% |
| 2006 | 13.9 | 111.84% |
| 2005 | 6.55 | -16.43% |
| 2004 | 7.84 | -38.83% |
| 2003 | 12.8 | 85.28% |
| 2002 | 6.92 |
How to read a P/E ratio?
The Price/Earnings ratio measures the relationship between a company's stock price and its earnings per share. A low but positive P/E ratio stands for a company that is generating high earnings compared to its current valuation and might be undervalued. A company with a high negative (near 0) P/E ratio stands for a company that is generating heavy losses compared to its current valuation.
Companies with a P/E ratio over 30 or a negative one are generaly seen as "growth stocks" meaning that investors typically expect the company to grow or to become profitable in the future.
Companies with a positive P/E ratio bellow 10 are generally seen as "value stocks" meaning that the company is already very profitable and unlikely to strong growth in the future.