Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML)
France · Delayed Price · Currency is EUR 34.09
+0.07 (0.21%)
Aug 19, 2026, 5:36 PM CET
EPA:ML Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 1,592 | 1,665 | 1,884 | 1,983 | 2,001 | 1,844 |
Depreciation & Amortization | 2,031 | 2,036 | 2,085 | 2,008 | 1,944 | 1,812 |
Asset Writedown & Restructuring Costs | -31 | -172 | 310 | 594 | -72 | -12 |
Loss (Gain) on Equity Investments | -55 | -109 | 40 | -128 | 59 | 69 |
Other Operating Activities | 55 | 126 | -52 | -155 | 76 | 17 |
Change in Accounts Receivable | 167 | -29 | 236 | 254 | -746 | -370 |
Change in Inventory | 164 | 253 | -165 | 775 | -1,055 | -1,106 |
Change in Accounts Payable | 208 | -120 | 121 | -276 | 9 | 647 |
Change in Other Net Operating Assets | 4 | 169 | -123 | 232 | -285 | 5 |
Operating Cash Flow | 4,135 | 3,819 | 4,336 | 5,287 | 1,931 | 2,906 |
Operating Cash Flow Growth | 22.26% | -11.92% | -17.99% | 173.80% | -33.55% | -13.67% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -1,584 | -1,714 | -1,904 | -2,004 | -1,919 | -1,494 |
Sale of Property, Plant & Equipment | 148 | 137 | 35 | 47 | 33 | 38 |
Cash Acquisitions | -695 | -58 | -7 | -793 | -124 | -82 |
Divestitures | 164 | 125 | 5 | 142 | 65 | -3 |
Sale (Purchase) of Intangibles | -254 | -254 | -278 | -232 | -222 | -211 |
Investment in Securities | -5 | 175 | 103 | -72 | 105 | -174 |
Other Investing Activities | -72 | -18 | -65 | -18 | 117 | 175 |
Investing Cash Flow | -2,298 | -1,607 | -2,111 | -2,930 | -1,945 | -1,751 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 165 | 1,002 | 23 | 67 | 44 |
Total Debt Issued | 353 | 165 | 1,002 | 23 | 67 | 44 |
Short-Term Debt Repaid | - | -400 | -153 | -1,134 | -575 | -90 |
Long-Term Debt Repaid | - | -290 | -294 | -312 | -436 | -1,018 |
Total Debt Repaid | -693 | -690 | -447 | -1,446 | -1,011 | -1,108 |
Net Debt Issued (Repaid) | -340 | -525 | 555 | -1,423 | -944 | -1,064 |
Issuance of Common Stock | 71 | 72 | 37 | - | 76 | - |
Repurchase of Common Stock | -968 | -668 | -502 | - | -120 | - |
Common Dividends Paid | -940 | -974 | -961 | -893 | -803 | -410 |
Other Financing Activities | 95 | -150 | 77 | -20 | -69 | 41 |
Financing Cash Flow | -2,082 | -2,245 | -794 | -2,336 | -1,860 | -1,433 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 16 | -27 | -10 | -90 | -24 | 13 |
Miscellaneous Cash Flow Adjustments | 1 | 1 | - | - | - | - |
Net Cash Flow | -228 | -59 | 1,421 | -69 | -1,898 | -265 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 2,551 | 2,105 | 2,432 | 3,283 | 12 | 1,412 |
Free Cash Flow Growth | 125.55% | -13.45% | -25.92% | 27258.33% | -99.15% | -34.96% |
Free Cash Flow Margin | 9.95% | 8.10% | 8.94% | 11.58% | 0.04% | 5.93% |
Free Cash Flow Per Share | 3.63 | 2.95 | 3.39 | 4.56 | 0.02 | 1.97 |
Levered Free Cash Flow | 2,414 | 2,128 | 1,731 | 2,974 | -487.25 | 1,467 |
Unlevered Free Cash Flow | 2,568 | 2,288 | 1,862 | 3,157 | -297.88 | 1,594 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 276 | 290 | 251 | 407 | 378 | 227 |
Cash Income Tax Paid | 633 | 593 | 806 | 776 | 697 | 562 |
Change in Working Capital | 543 | 273 | 69 | 985 | -2,077 | -824 |