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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Michelin's intangible assets for the quarter that ended in Dec. 2025 was MXN97,007 Mil.
Michelin (MEX:ML) Intangible Assets Explanation
If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.
The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.
Some intangibles are amortized. Amortization is the depreciation of intangible assets.
Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.
Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.
If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.
Intangibles acquired are on balance sheet at fair value.
Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.
One of the reasons competitive advantage power can remain hidden for so long.
Be Aware
Companies may change the way intangible assets are amortized, and this will affect their reported earnings.
Michelin Intangible Assets Related Terms
Michelin Intangible Assets Historical Data
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The historical data trend for Michelin's Intangible Assets 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.
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.
What does a Intangible Assets of MXN97,007 Mil mean?
Michelin (MEX:ML) has a Intangible Assets of MXN97,007 Mil as of Dec. 2025. Intangible assets include patents, goodwill and trade secrets. View historical data on Michelin and its competitors.
Is Michelin's Intangible Assets too high?
Michelin's current Intangible Assets is MXN97,007 Mil. Overall, Michelin has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Michelin's Intangible Assets compare to ORLY and AZO?
Michelin's Intangible Assets of MXN97,007 Mil can be compared against companies in the Vehicles & Parts industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intangible Assets for a Vehicles & Parts company?
A good Intangible Assets depends on the Vehicles & Parts industry context. However, Intangible Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intangible Assets mean?
A high Intangible Assets can signal that a stock is expensive relative to its fundamentals. Intangible assets include patents, goodwill and trade secrets. View historical data on Michelin and its competitors. Michelin's current Intangible Assets is MXN97,007 Mil. 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 Intangible Assets of MXN97,007 Mil. The stock's GF Value™ is MXN637.22, compared to a current price of MXN733.29 — trading 15.1% above its estimated fair value. The current Intangible Assets is MXN97,007 Mil. Michelin's overall GF Score™ is 83/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intangible Assets calculated?
Intangible Assets is calculated from a company's financial statements. For Michelin (MEX:ML), the current Intangible Assets is MXN97,007 Mil as of Dec. 2025. 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 15.1% above its estimated GF Value™ of MXN637.22.
Key valuation signals for MEX:ML:
Intangible Assets: MXN97,007 Mil
GF Value™: MXN637.22 vs. price of MXN733.29 (15.1% above fair value)
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.
83GF Score
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Intangible Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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