This article explores the statistics of Michelin Tires, a prominent player in the automotive industry. The focus is on the company’s financial performance, including net sales and research and development investment, as well as its global employee base of 124,900 individuals. Through an examination of these key figures, readers can gain insight into Michelin’s success as a leading provider of innovative tire products and solutions to customers worldwide.
- Michelin is the largest tire manufacturer in the world, with a market share of around 14.8%.
- Michelin has consistently had 124,900 full-time employees.
Key and recent statistics
Industry: Automotive (Automotive and Suppliers)
Founded: March 1, 1889
Headquarters: Clermont-Ferrand, France
Chief Executive Officer: Florent Menegaux
Michelin Tires is a company with a long and rich history in the automotive industry. Founded in 1889 in Clermont-Ferrand, France, Michelin Tires has grown to become a leading player in the industry, with a global presence that spans across continents. The company has achieved remarkable success over the years, with a significant contribution to the development of the automotive industry, particularly in the production of high-quality tires that meet the diverse needs of customers around the world.
Michelin Tires employs over 124,900 individuals globally as of 2022, making it one of the largest employers in the industry. The company is committed to creating a diverse and inclusive workplace with a focus on employee development, well-being, and safety.
At the helm of Michelin Tires is its Chief Executive Officer, Florent Menegaux, who has been in this position since 2019. Menegaux brings a wealth of experience and knowledge to the role, having served in various positions within the company over the years.
Michelin Tires’ presence in the automotive industry is marked by its commitment to innovation and sustainability. The company invests heavily in research and development, with an investment of €766 million in 2020 alone, to ensure that its products meet the ever-evolving needs of customers.
Overall, Michelin Tires’ impressive statistics are a testament to its commitment to excellence in the automotive industry.
Table of contents
Michelin history timeline
Michelin worldwide revenue statistics
- Michelin’s revenue has been consistently increasing over the past decade
- Michelin has been a high-performing company, with revenue figures in the tens of billions of dollars for several years
- The company has been able to weather economic downturns such as the 2008 financial crisis and the COVID-19 pandemic
- Michelin’s revenue figures demonstrate the company’s strength and ability to adapt to changing market conditions.
Michelin gross profit statistics
- Michelin’s gross profit has been increasing over the past decade with a slight dip in 2020 due to the pandemic.
- The company has consistently generated substantial gross profits, with figures consistently in the billions of dollars.
- Despite economic downturns such as the 2008 financial crisis and the COVID-19 pandemic, Michelin has maintained a solid gross profit.
- These statistics demonstrate Michelin’s strong financial position and ability to generate substantial profits.
- Michelin’s ability to adapt to changing market conditions bodes well for the company’s future growth and success.
Michelin operating profit statistics
- Michelin’s operating income has generally been increasing over the past decade, with a dip in 2015.
- The company has consistently generated substantial operating income, with figures consistently in the billions of dollars.
- Michelin has been able to weather economic downturns with minimal impact on its operating income, indicating financial stability.
- However, operating income can be influenced by various factors, such as the cost of goods sold, operating expenses, and taxes.
Michelin net income statistics
- Michelin’s net income has generally been increasing over the past decade, with a notable dip in 2020 due to the COVID-19 pandemic.
- Michelin consistently generates substantial net income, with figures consistently in the billions of dollars.
- Despite economic downturns, Michelin has been able to maintain a solid net income.
- These statistics demonstrate Michelin’s financial strength and ability to generate profits, which are essential for long-term sustainability and growth.
- It is important to consider factors such as tax laws and other non-operating expenses when evaluating a company’s net income.
Michelin ownership structure
- Michelin has a diverse ownership structure, with institutional investors holding the majority of shares and voting rights.
- Non-resident institutional investors hold the largest share of capital and voting rights, while French institutional investors hold a smaller share.
- Individual shareholders hold a relatively small share of capital and voting rights compared to institutional investors.
- Michelin has an employee shareholder plan that allows employees to own a small share of the company’s capital and voting rights.
- Michelin’s ownership structure demonstrates the company’s commitment to broad-based ownership and its efforts to maintain a diversified shareholder base.
Michelin EPS statistics
- Michelin’s EPS has generally been increasing over the past decade
- There was a notable dip in 2020 due to the COVID-19 pandemic
- Michelin has consistently generated positive EPS, with figures consistently above $1 per share
- Michelin has been able to maintain a solid EPS despite economic downturns
- These statistics demonstrate Michelin’s ability to generate profits on a per-share basis, which is important for investors who are interested in owning a stake in the company
- EPS can be influenced by various factors, such as stock buybacks, which should be considered when evaluating a company’s financial performance.
Michelin sales by region statistics
- Europe is the largest market for Michelin, accounting for around 37-39% of sales from 2017-2021.
- North America is Michelin’s second-largest market, accounting for around 35-38% of sales over the same period.
- The Other category, including markets outside of Europe and North America, accounts for around 26-28% of sales over the same period.
- Michelin’s strong global presence and diversified sales demonstrate its long-term sustainability and growth.
- The company is able to mitigate risks associated with economic downturns or other market-specific factors that may impact sales in a particular region by maintaining a strong presence in multiple regions.
Michelin’s current ratio statistics
- Michelin’s current ratio has generally been above 1 over the past decade.
- The ratio has fluctuated, reaching a peak of 2.07 in 2012 and a low of 1.4 in 2018.
- Michelin’s current assets and current liabilities have both increased over the past decade.
- These statistics demonstrate Michelin’s ability to manage its current assets and liabilities effectively.
- This is important for maintaining financial stability and meeting short-term obligations.
- However, a high current ratio may not always indicate financial health and can be influenced by various factors such as management policies and economic conditions.
Michelin reporting segments statistics
- Michelin has three distinct business segments: Automotive and Related Distribution, Road Transportation and Related Distribution, and Specialty Businesses and Related Distribution.
- Each segment has a different level of profitability, with the Specialty Businesses and Related Distribution consistently having the highest segment operating margin over the past five years.
- Each segment has experienced fluctuations in profitability over the past five years, with some years showing significant changes in segment operating income and margin compared to the previous year.
- Understanding the different segments of a company’s operations is important for making informed decisions about operations and investing in areas that will drive growth and profitability.
Michelin employee count statistics
- Michelin has consistently had a large number of full-time equivalent employees.
- The number of employees has increased from 106,600 in 2015 to 124,900 in 2022.
- Michelin has experienced fluctuations in the number of employees, with a low of 106,600 in 2015 and a high of 124,900 in 2022.
- The company has continued to add to its workforce, with an increase of around 7,400 employees from 2021 to 2022.
- Michelin’s commitment to employment demonstrates its ability to support a large and growing workforce, which is important for long-term sustainability and growth.
- However, it is also important for companies to manage their workforce effectively to maintain productivity and profitability.
Michelin’s workforce by gender statistics
- Men make up 82.50% of Michelin’s workforce in 2017, while women accounted for 17.50%
- The percentage of women in Michelin’s workforce has increased gradually from 17.50% in 2017 to 19.80% in 2021
- The percentage of men in Michelin’s workforce has gradually decreased from 82.50% in 2017 to 80.20% in 2021
- Despite the significant difference between the percentage of men and women in Michelin’s workforce, the upward trend in the percentage of women over the years suggests that Michelin is taking steps to improve gender diversity in its workforce.
Michelin’s workforce by age statistics
- Michelin’s workforce has remained relatively stable from 2017 to 2021.
- The largest age group in the workforce is the 35-44 age group, comprising around 30% of the workforce each year.
- The second-largest age group is the 45-54 age group, comprising about a quarter of the workforce in 2021.
- The percentage of employees in the youngest age category (less than 24) has been increasing slightly over the years.
- The percentage of employees in the older age categories (55-64 and above 65) has been decreasing over the years.
- Michelin is recruiting younger employees, and/or older employees are leaving the company.
- Over a quarter of the workforce is 45 or older in 2021, suggesting a relatively diverse age distribution in the workforce.
Michelin benefit costs statistics
- Michelin has consistently spent significantly on employee benefit costs over the past five years.
- Employee benefit costs have increased from €6,038 million in 2018 to €6,950 million in 2022.
- Michelin has experienced fluctuations in employee benefit costs, with some years showing higher costs compared to the previous year.
- Michelin’s employee benefit costs have increased over the past five years, indicating the company’s commitment to its workforce and providing competitive employee benefits.
- Michelin’s commitment to investing in its employees and ensuring their welfare is important for attracting and retaining top talent and maintaining a productive and motivated workforce.
- Employee benefit costs can be influenced by various factors, such as changes in employee demographics, labor regulations, and economic conditions.
Michelin’s strategy for 2030 statistics
- Michelin places a strong emphasis on engagement, safety, and customer satisfaction and aims to set new standards for every type of diversity.
- The company is committed to driving further progress in employee engagement and workplace safety and is already a world leader in these areas.
- Michelin is committed to creating value for its customers by delivering an exceptional experience in addition to quality products and services.
- Michelin aims to achieve ambitious, profitable, and sustainable growth, targeting an average annual growth rate of 5% between 2023 and 2030, with a return on capital employed (ROCE) exceeding 10.5% over the period.
- Michelin aims to achieve this growth by capturing the faster growth in electric car sales, focusing on creating value in the road transportation segment, and capitalizing on its superior products and services in the specialty markets.
- Michelin also aims to provide services and solutions based on connected objects and the monetization of collected data, extending its business beyond tires.
- Michelin is committed to reducing its environmental footprint, cutting carbon emissions from its manufacturing operations and energy use by 50% compared to 2010, and becoming carbon neutral by 2050.
- Additionally, Michelin aims to raise the percentage of bio-sourced or recycled materials in its tires to 40% and then to 100% in 2050 as part of a circular economy process.
- “Michelin: Results and Sales”. Michelin, https://www.michelin.com/en/finance/results-and-presentations/results-and-sales/
- “Michelin: Trends and Challenges”. Michelin, 2021, https://www.michelin.com/en/annual-report/trends-challenges/
- “Michelin: Profit”. Michelin, https://www.michelin.com/en/annual-report/performance-ambitions/profit/
- “Michelin 2021 DEU US.pdf”. Michelin, 2021, file:///C:/Users/loope/Downloads/Michelin_2021_DEU_US%20(1).pdf
- “Michelin: Research and Development Expenses”. Macro Trends, https://www.macrotrends.net/stocks/charts/MGDDY/michelin/research-development-expenses.
- “Michelin in Motion”. Michelin, 2021, https://www.michelin.com/en/annual-report/michelin-in-motion/
- “Michelin Annual Report”. Michelin, 2021, https://www.michelin.com/en/annual-report/
- “All Michelin’s Key Figures 2017-2021”. Michelin, 2021, https://www.michelin.com/en/documents/all-michelins-key-figures-2017-2021/
- “Passenger Car, Light Truck, Truck and Bus 2023 January Market”. Michelin, 2023, https://www.michelin.com/en/documents/passenger-car-light-truck-truck-and-bus-2023-january-market-2/
- “Michelin Group Annual Consensus Estimates”. Michelin, 2021, https://www.michelin.com/en/documents/annual-consensus-estimates-5/
- “Michelin Group Non-Financial Indicators 2021”.Michelin, 2021, https://www.michelin.com/en/documents/michelin-group-non-financial-indicators-2021/
- “The UN Sustainable Development Goals: Michelin’s Approach”. Michelin, 2021, https://www.michelin.com/en/documents/the-un-sustainable-development-goals-michelins-approach/
- “Michelin Financial Publications”. Michelin, https://www.michelin.com/en/finance/regulated-information/financial-publications/