Michelin

What Michelin makes

Michelin is a tire manufacturer first, and since 2026 it reports in four segments. Consumer covers passenger car and two-wheel tires, where the group says 68% of MICHELIN-brand passenger tire sales are now in 18-inch-and-larger sizes and where the Primacy, CrossClimate, Primacy 5 Energy, and Pilot Sport 5 Energy lines were renewed through 2025 and 2026. Transport covers truck tires and fleet services. Specialties covers mining, agricultural, aircraft, and construction tires, including the XHA3 line for construction equipment. The fourth segment, Polymer Composite Solutions, groups the non-tire materials businesses, industrial seals (Flexitallic), coated fabrics and specialty textiles (Cooley Group, Tex Tech Industries), belts, and conveyors.

Beyond products, the group sells fleet management under the MICHELIN Connected Fleet brand and runs the Lifestyle activities that include the MICHELIN Guide. In electric vehicles, the company states nearly 400 EV tire homologations with more than 60 vehicle brands, positioning it as a Tier-1 supplier to most major OEMs. Its Michelin in Motion 2030 plan targets 20 to 30% of revenue from connected solutions and composites by 2030.

Financial performance

Michelin reported sales of €26.0 billion for FY2025, down 4.4% at current exchange rates but only 1.4% lower at constant currencies, with most of the volume decline coming from original-equipment truck and agricultural tires in North America. A 2026 study of the top automotive suppliers puts the group's automotive operating margin at 9.1% for FY2025, against 9.7% a year earlier; the company itself reported segment operating income of €2.9 billion at constant exchange rates, or 10.9% of sales. Net income came in at €1.7 billion, down 12%, while free cash flow before M&A reached €2.1 billion and net gearing stood at 13%.

The first half of 2026 improved: revenue of €12.7 billion, up 0.5% at constant currencies, an 11.4% segment operating margin, and free cash flow before M&A of €282 million against an outflow a year earlier. The group confirmed its full-year guidance in July 2026 and noted tariff and logistics cost pressure among the headwinds. Michelin employs about 122,600 people across 63 countries, roughly 6,000 of them in R&D, per its 2025 registration document.

Ownership and history

Michelin was founded in Clermont-Ferrand, France in 1889 and is still headquartered there, at Place des Carmes Déchaux. The parent, Compagnie Générale des Établissements Michelin, is a partnership limited by shares listed on Euronext Paris under the ticker ML. Under this structure the group is run by two Managers, Florent Menegaux as Managing Chairman and General Partner and Philippe Jacquin as General Manager, assisted by an eight-member Executive Committee that includes Group CFO Bénédicte de Bonnechose. The portfolio has been actively reshaped since 2024: bias construction tires and the Camso brand were sold to CEAT, while three composites acquisitions closed in 2026.

Certifications and quality

Michelin's tire plants hold IATF 16949 certification at site level; certification-body registries list current certificates for individual plants, such as its Thai manufacturing operations. The company does not present a single group-wide certificate, so buyers should verify the certificate for the specific supplying plant during PPAP or program onboarding. On the materials side, the group states a target of 100% renewable or recycled tire materials by 2050.

Known customers

Michelin sells replacement tires through distribution and original-equipment tires directly to vehicle manufacturers. The company states nearly 400 EV homologations with more than 60 vehicle brands worldwide, and its own site notes it is the exclusive tire supplier for the FIA WEC Hypercar racing category through 2032. Company press materials also describe an innovation partnership with Dassault Aviation on aircraft applications. Specific OEM program details beyond these company statements are not published.

US import activity

Michelin North America, based in Greenville, South Carolina, shows 96,547 US import shipments on record, with the most recent on September 16, 2026. The named foreign shippers are largely intra-group plants and contract manufacturers, including Michelin Siam and the Indonesian producers Multistrada Arah Sarana and Gajah Tunggal. These are ocean-freight records for the US entity only; air, truck, and rail movements do not appear, and the figures say nothing about the French parent's flows into other markets.

Recent news

July 2026, Michelin completed the acquisition of Tex Tech Industries, a specialty-textiles maker, the third composites acquisition finalized in 2026 (company announcement).

April 2026, the group closed its acquisition of Flexitallic, an industrial sealing specialist, and said Polymer Composite Solutions will become its own reporting segment (company announcement).

December 2024, Michelin agreed to sell its two Sri Lanka plants making bias tires and tracks for compact construction equipment, plus the Camso brand, to the CEAT Group, and to stop bias-tire production in Olsztyn, Poland (company announcement).

Frequently asked questions

What does Michelin make?

Michelin makes passenger car, two-wheel, truck, mining, agricultural, aircraft, and construction tires, sold under the MICHELIN brand and other group brands. It also sells fleet management services under MICHELIN Connected Fleet, polymer composite products including seals, coated fabrics, and belts, and runs the MICHELIN Guide.

Who owns Michelin?

Michelin is publicly owned. Compagnie Générale des Établissements Michelin is listed on Euronext Paris under the ticker ML. It is organized as a partnership limited by shares, run by Managing Chairman Florent Menegaux and General Manager Philippe Jacquin rather than a conventional board-appointed CEO.

What is Michelin's annual revenue?

Michelin reported €26.0 billion in sales for FY2025, down 4.4% at current exchange rates and 1.4% at constant currencies, with segment operating income of €2.9 billion at constant rates. First-half 2026 revenue was €12.7 billion with an 11.4% segment operating margin.

Where is Michelin headquartered?

Michelin is headquartered in Clermont-Ferrand, France, at Place des Carmes Déchaux, where it was founded in 1889. The group operates in 63 countries with about 122,600 employees, including a large North American business run from Greenville, South Carolina.

Who are Michelin's customers?

Michelin supplies original-equipment tires to vehicle manufacturers worldwide and replacement tires through distribution. The company states nearly 400 EV tire homologations with more than 60 vehicle brands, is the exclusive Hypercar-category tire supplier in FIA WEC racing through 2032, and works with Dassault Aviation on aircraft applications.

Last verified September 22, 2026. Is this your company? Request a correction.