Michelin stock trades below EUR 34 as buyback continues
Published on 09/24/2026 at 22:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Michelin stock ended at EUR 33.50 on Euronext Paris on September 24, 2026, down 0.45 percent and below the EUR 34 level. The tire maker also disclosed the purchase of 204,702 ordinary shares at a weighted average price of EUR 31.9709 for cancellation, according to GlobeNewswire.
Buyback price stays below market
The repurchase price was EUR 1.5291 below the Euronext Paris closing price, a discount of 4.56 percent. The stated objective is cancellation, which reduces the share count if completed and gives the transaction a direct capital allocation effect.
The September 24 purchase follows Michelin's regular disclosure of own-share transactions. The same filing identifies the ordinary shares by ISIN FR001400AJ45 and lists over-the-counter execution through Natixis, BNP Paribas and Société Générale.
Margins offset weaker revenue
Michelin's first-half 2026 revenue fell 2.6 percent to EUR 12.7 billion, while operating margin reached 11.4 percent, according to AInvest. Segment operating income rose 7 percent on a constant currency and scope basis to EUR 1.45 billion.
That combination matters more than the top-line decline. Michelin converted pricing and product mix into higher segment earnings even as revenue contracted, leaving profitability as the central operating variable for the second half of 2026.
EUR 40 target remains intact
Wallstreet Online reported on September 23, 2026, that Jefferies maintained its Buy rating and EUR 40 price target. The target stands EUR 6.50 above the September 24 closing price, equivalent to 19.40 percent.
Michelin's 52-week range is EUR 25.51 to EUR 35.72, putting the closing price EUR 2.22 below the yearly high and EUR 7.99 above the low. The stock therefore remains closer to its annual high than to its annual low, while the buyback adds a measurable shareholder-return element.
Stock remains below EUR 34
Michelin stock closed at EUR 33.50 on Euronext Paris on September 24, 2026, with a daily change of minus 0.45 percent. The company had a market capitalization of EUR 22,700,893,670 on the same date.
Michelin stock facts
- Company: Compagnie Générale des Établissements Michelin Société en commandite par actions
- ISIN: FR001400AJ45
- Ticker: ML
- Trading venue: Euronext Paris
- Closing price (September 24, 2026): EUR 33.50
- Market capitalization: EUR 22,700,893,670 (as of September 24, 2026)
- 52-week range: EUR 25.51-35.72 (as of September 24, 2026)
- Sector / Industry: Consumer Cyclical / Auto Parts
- Index membership: CAC 40
