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MichelinMEX:ML 85 EV-to-OCF is 6.46 as of Jul. 23, 2026, which is 14% below its 10-year median of 7.50. GuruFocus rates MEX:ML with a GF Score™ of 85/100 and a GF Value™ of MXN632.54. The stock has 7 warning signs investors should review. Among 1,328 Vehicles & Parts companies, Michelin ranks better than 55.8% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Michelin's Enterprise Value is MXN523,504 Mil.
Michelin's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was MXN81,020 Mil. Therefore, Michelin's EV-to-OCF for today is 6.46.
The historical rank and industry rank for Michelin's EV-to-OCF or its related term are showing as below:
MEX:ML'
s EV-to-OCF Range Over the Past 10 Years
Min: 4.84 Med: 7.5 Max: 14.38
Current: 6.9
During the past 13 years, the highest EV-to-OCF of Michelin was 14.38. The lowest was 4.84. And the median was 7.50.
MEX:ML's EV-to-OCF is ranked better than 55.8% of 1328
companies
in the Vehicles & Parts industry
Industry Median: 8.295
vs MEX:ML: 6.90
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Michelin's share price for today is MXN733.29.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Michelin's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was MXN50.214.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Michelin EV-to-OCF Related Terms
Michelin EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Michelin's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Auto Parts subindustry, Michelin's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Michelin EV-to-OCF vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Michelin's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Michelin's EV-to-OCF falls into.
Michelin's current Enterprise Value is MXN523,504 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Michelin's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was MXN81,020 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Michelin (MEX:ML) has a EV-to-OCF of 6.46 as of Jul. 23, 2026. This is 14% below median its historical median of 7.50. Over the past decade, Michelin's EV-to-OCF has ranged from 4.84 to 14.38. According to the industry distribution chart, Michelin ranks #587 out of 1328 companies in the Vehicles & Parts industry, placing it in the top 44.2%.
Is Michelin's EV-to-OCF too high?
Michelin's current EV-to-OCF of 6.46 is 14% below median its 10-year median of 7.50. Over the past 10 years, this metric has ranged from a low of 4.84 to a high of 14.38. The Vehicles & Parts industry median EV-to-OCF is 8.30. Michelin's value of 6.46 is 22.1% below this industry median. Based on the distribution chart, Michelin ranks #587 out of 1328 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Michelin has a GF Score™ of 85/100, reflecting its overall financial health beyond just this single metric.
How does Michelin's EV-to-OCF compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Michelin ranks #587 out of 1328 companies for EV-to-OCF. This puts Michelin in the upper half of its industry. The industry median EV-to-OCF is 8.30. Michelin's value of 6.46 is 22.1% below this benchmark. Historically, Michelin's own EV-to-OCF has ranged from 4.84 to 14.38 over the past decade. While the company's 10-year median is 7.50 vs. the industry median of 8.30, Michelin has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Vehicles & Parts company?
The median EV-to-OCF among Vehicles & Parts companies is 8.30, based on 1,328 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Michelin's current EV-to-OCF of 6.46 is 22.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Vehicles & Parts industry, the median EV-to-OCF is 8.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Michelin's current EV-to-OCF is 6.46, which is 14% below median its own 10-year median of 7.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Michelin stock overvalued right now?
Michelin (MEX:ML) has a current EV-to-OCF of 6.46. The stock's GF Value™ is MXN632.54, compared to a current price of MXN733.29 — trading 15.9% above its estimated fair value. The current EV-to-OCF is 6.46, which is 14% below median its 10-year median of 7.50 and 22.1% below the Vehicles & Parts industry median of 8.30. Michelin's overall GF Score™ is 85/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Michelin (MEX:ML), the current EV-to-OCF is 6.46 as of Jul. 23, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Michelin (MEX:ML) Overvalued in 2026?
Based on GuruFocus' analysis, Michelin stock appears to be overvalued.
The current stock price of MXN733.29 is trading 15.9% above its estimated GF Value™ of MXN632.54.
Key valuation signals for MEX:ML:
EV-to-OCF: 6.46 (14% below median its 10-year median of 7.50)
GF Value™: MXN632.54 vs. price of MXN733.29 (15.9% above fair value)
Industry Position: 22.1% below the Vehicles & Parts median (#587 of 1328)
No single metric tells the full story. See the MEX:ML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Michelin manufactures tires for passenger vehicles. The company also makes tires for all types of commercial vehicles as well as bicycle, motorcycle, earthmover, aviation, and agricultural tires. Its operations are organized into three operating segments namely Automotive and two-wheel; Road transportation; and Specialty businesses. The company generates maximum revenue from Automotive segments. The Specialty businesses include the Mining, Beyond-road, Two-wheel and Aircraft tire activities, as well as the High-Tech Materials activities. The Services & Solutions businesses are included for the majority part in the Road transportation and related distribution segment.
85GF Score
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