Michelin (XPAR:ML) Research & Development: €788 Mil (TTM As of Dec. 2025)


XPAR:ML Michelin XPAR:ML
83 GF Score
Price €33.57
GF Value €30.15
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Michelin Research & Development?

Michelin XPAR:ML +2.75% 83 Research & Development is €788 Mil as of Dec. 2025. GuruFocus rates XPAR:ML with a GF Score™ of 83/100 and a GF Value™ of €30.15 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Michelin's Research & Development for the six months ended in Dec. 2025 was €392 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Dec. 2025 was €788 Mil.

Michelin  (XPAR:ML) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Michelin Research & Development Related Terms

Michelin Research & Development Historical Data

* Premium members only.

The historical data trend for Michelin's Research & Development 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.

Michelin Research & Development Chart

Michelin Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 682.00 698.00 756.00 786.00 788.00

Michelin Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 389.00 385.00 401.00 396.00 392.00
XPAR:ML
83GF Score
Michelin XPAR:ML
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Michelin Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €788 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.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of €788 Mil mean?
Michelin (XPAR:ML) has a Research & Development of €788 Mil as of Dec. 2025. Research and development expense is the total cost for research and development activities. View historical data on Michelin and its competitors.
Is Michelin's Research & Development too high?
Michelin's current Research & Development is €788 Mil. Overall, Michelin has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Michelin's Research & Development compare to ORLY and AZO?
Michelin's Research & Development of €788 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 Research & Development for a Vehicles & Parts company?
A good Research & Development depends on the Vehicles & Parts industry context. However, Research & Development 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 Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Michelin and its competitors. Michelin's current Research & Development is €788 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?
Based on GuruFocus' analysis, Michelin (XPAR:ML) is currently considered Modestly Overvalued. The stock's GF Value™ is €30.15, compared to a current price of €33.57 — trading 11.3% above its estimated fair value. The current Research & Development is €788 Mil. Michelin's overall GF Score™ is 83/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Michelin (XPAR:ML), the current Research & Development is €788 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 (XPAR:ML) Overvalued in 2026?

Based on GuruFocus' analysis, Michelin stock appears to be overvalued. The current stock price of €33.57 is trading 11.3% above its estimated GF Value™ of €30.15. GuruFocus considers Michelin to be Modestly Overvalued.

Key valuation signals for XPAR:ML:

  • Research & Development: €788 Mil
  • GF Value™: €30.15 vs. price of €33.57 (11.3% above fair value)
  • GF Score™: 83/100 with 5 warning signs

No single metric tells the full story. See the XPAR:ML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Michelin Business Description

Address 23, Place des Carmes, Dechaux, Puy-de-Dome, Clermont-Ferrand, FRA, 63000
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

Get the complete analysis for XPAR:ML

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€33.57
Price
€30.15
GF Value