Michelin (ML.PA) dividend yield and history
What is the Michelin (ML.PA) dividend yield?
Michelin (ML.PA) dividend
4.1 %dividend yield at the €33.56 close of November 9, 2026
€1.38a share paid in 2025, our report
- Paid in 2025: €1.38 a share, up from €1.13 in 2021
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Executive summary + 8 chapters · 21,593 words · 169 sources
Is Michelin a good dividend stock? Does its cash cover the dividend?
Our report makes no buy or sell call. It checks the dividend against free cash flow, the cash the business has left after paying for buildings and equipment.
The pattern is broadly shareholder-friendly. Dividends and buybacks took most of the cash generated over the five years, while acquisitions absorbed a smaller but important share. Debt reduction strengthened the balance sheet, although Michelin’s own net-debt measure uses a different definition from the table’s debt-less-cash figure.
In 2025, operating cash flow was €3.82 billion. Capital spending was €2.02 billion, before lease payments. After €280 million of lease payments, free cash flow was €1.52 billion. Subtracting €75 million of stock-based pay as an economic cost gives €1.45 billion, although that deduction is not a cash payment in the year.
- 202564.0 %
- 202452.9 %
Dividends as a share of free cash flow (our arithmetic on the report's figures). Past the dashed line, the dividend cost more than the cash.
What does Michelin's dividend yield mean for your return?
It is the part of your return paid in cash: a year of dividends as a share of the share price, at the November 9, 2026 close.
What could change Michelin’s dividend?
Management promises higher 2026 segment operating income at constant exchange rates and business scope, plus more than €1.6 billion of free cash flow before acquisitions. Its record is mixed: it kept 3 of 5 checked promises. Two years beat original segment-profit targets and two fell below.
The main risk is the gap between Michelin’s prices and its costs. The company expects raw-material pressure in the first half of 2027, while competitors have not fully followed attempted US price increases. A benchmark natural-rubber price was 49.1% higher in October 2026 than a year earlier, illustrating how quickly input costs can challenge margins.
How much does Michelin pay in dividends?
A dividend sends cash directly to shareholders. A buyback uses company cash to cancel shares, allowing continuing shareholders to own a larger percentage of the business if profits hold up. Michelin paid €1.38 per share for 2025 and authorized up to €2 billion of buybacks for 2026–28, with a first tranche of up to €750 million. Investors must check what was actually bought and whether employee share issuance offset the reduction.
Results · EUR millions; per share in EUR · 2025
- Revenue25,992
- Net income1,665
- EPS, diluted2.33
- Dividend per share1.38
Questions about the Michelin (ML.PA) dividend
Does Michelin pay a dividend?
Yes. It paid €1.38 a share in 2025.
What is the dividend on €100 of Michelin shares?
About €4.10 a year at the 4.1 % dividend yield: €100 buys 3.0 shares at the November 9, 2026 close.
Is Michelin's dividend covered by its cash?
Yes. Dividends took 64.0 % of free cash flow in 2025 and 52.9 % in 2024 (our arithmetic on the report's figures).
Where could Michelin stock be by 2029?
Our report's forecast is €41.79 a share by November 2029, from the €33.56 close of November 9, 2026. Michelin stock forecast →
More on Michelin (ML.PA)
This page shows the dividend. The report shows whether the cash pays for it.
The full report: an executive summary and 8 chapters, 21,593 words, 54 tables. Its first page opens here, no account needed.
How it is made: AI reads Michelin's filings, writes the report, checks the numbers against them and cites each source, 169 in this one. How we work · Corrections
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Information only, not investment advice. A dividend can be cut; the forecast gives three cases with their chances. Prices are those of the date shown.