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MGDDY - Here Is Why Michelin Is One Of My Favorite European Giants
Compagnie Generale des Etablissements Michelin ADR
Michelin (MGDDY) remains beaten up after March's market turmoil, trading at 9.4x TTM P/E and with its well-covered dividend yielding 4.6%. As this article will discuss, Michelin looks like a great, long-term investment opportunity in the COVID-19 pandemic. The company is highly profitable and, while cyclical along with the global economy, Michelin has not had one unprofitable year in the past 12 years, which includes remaining profitable during the 2008 financial crisis.
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Michelin's Strong Industry Position
The name Michelin is synonymous with tires as the company has built a strong reputation since