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Italian premium tire manufacturer focused on high-performance and luxury car tires, majority-owned by Sinochem (China).
Italian premium tire manufacturer focused on high-performance and luxury car tires, majority-owned by Sinochem (China).
Replacement tires sold through dealers and distributors are the larger and more profitable channel, while original-equipment fitment on sports and luxury cars builds the brand and later replacement demand. Formula 1 supply promotes the brand but is small in volume. Premium and ultra-high-performance tires make up more of its mix than at mass-market rivals.
Moat: narrow (brand, IP / patents). Premium tire brand with exclusive Formula 1 supply contract and strong OEM fitment on luxury cars.
Headquarters: Milan, Italy · Founded: 1872 · Employees: 30,999
Size Pirelli & C (PIRC.MI) is an Italy Consumer Discretionary company (Automotive Aftermarket) with a market value of $8.27B, the 29th largest of 123 Italy companies the cockpit tracks. Shares closed at €6.80 on 6 Nov 2026.
Performance Over six months the shares gained 10.0%, against +1.5% for the median peer and +3.1% for the Italy market (cap-weighted) — 4th highest of 19 in its peer set.
Growth Revenue fell 0.8% over the last twelve months (peer median +5.4%); the operating margin is -8.7% (peer median 9.6%).
Valuation It trades at 13.3× forward earnings against a peer median of 13.3× (10th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.9 points below its cost of capital (10.2% WACC).
Next results Next results expected around 10 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €6.77B | €6.78B | €6.77B | €6.65B | €6.62B |
| Revenue growth | — | 0% | +2% | +1% | — |
| Gross profit | n/a | €2.22B | €2.28B | €2.25B | €2.20B |
| EBITDA | n/a | €1.24B | €1.20B | €1.16B | €1.11B |
| Net income | €537M | €498M | €468M | €479M | €418M |
| Free cash flow | n/a | €836M | €724M | €644M | €658M |
| Capital expenditure | n/a | €378M | €404M | €399M | €335M |
| Total debt | n/a | €2.96B | €3.83B | €3.96B | €4.49B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Pirelli & C PIRC.MI | $8.27B | +10% | -1% | -9% | 13.3× | -2.4% |
| Cie Generale des Etablissements Michelin ML.PA | $25.1B | +5% | -4% | 10% | 12.6× | 3.7% |
| Continental CON.DE | $15.8B | +2% | -35% | n/a | 12.1× | -0.2% |
| Bridgestone 5108.T | $31.7B | +28% | +6% | 12% | 14.0× | -1.9% |
| Goodyear Tire & Rubber GT | $1.26B | -33% | -4% | 3% | n/a | 5.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PIRC.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.1% | +1.6% | 5th highest of 19 |
| 6-month return | +10.0% | +1.5% | 4th highest of 19 |
| Distance from 52-week high | -5.1% | -19.3% | highest of 19 |
| Revenue growth (TTM) | -0.8% | +5.4% | 5th lowest of 19 |
| Operating margin | -8.7% | 9.6% | lowest of 18 |
| Forward P/E | 13.3× | 13.3× | 10th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | -0.1% | 5th least demanding of 15 |
| Growth delivered (Del g) | +9.5% | +9.6% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | -11.9 pp | -7.3 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | -16.9 pp | -0.2 pp | lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pirelli & C PIRC.MI | Italy | $8.27B | +10% | -1% | -9% | 13.3× | -2.4% | +9.5% |
| Yokohama Rubber 5101.T | Japan | $6.78B | +8% | +13% | 15% | 8.1× | n/a | n/a |
| Sailun 601058.SS | China | $5.92B | -10% | +12% | 12% | 10.4× | n/a | n/a |
| MRF MRF.NS | India | $5.62B | -4% | +11% | 10% | 25.7× | 20.7% | +14.0% |
| Hankook Tire & Technology 161390.KS | South Korea | $5.56B | +5% | +43% | 10% | 6.1× | -13.2% | +26.9% |
| LKQ LKQ | United States | $5.06B | -31% | -3% | 7% | 9.3× | 0.0% | +3.3% |
| Balkrishna Industries BALKRISIND.NS | India | $4.93B | +7% | +20% | 15% | 30.5× | n/a | n/a |
| Continental CON.DE | Germany | $15.8B | +2% | -35% | n/a | 12.1× | -0.2% | -9.2% |
| Dorman Products DORM | United States | $4.03B | +10% | +2% | 16% | 15.8× | 4.3% | +14.3% |
| Sumitomo Rubber Industries 5110.T | Japan | $3.40B | +1% | +5% | 8% | 9.8× | -3.3% | +8.8% |
| Toyo Tire 5105.T | Japan | $3.17B | +6% | +4% | 15% | 8.2× | -7.3% | +11.6% |
| Cheng Shin Rubber Ind 2105.TW | Taiwan | $2.95B | -3% | -1% | 9% | 20.3× | -9.3% | -1.2% |
| Apollo Tyres APOLLOTYRE.NS | India | $2.80B | +1% | +14% | 8% | 16.6× | 15.6% | +10.7% |
| Cie Generale des Etablissements Michelin ML.PA | France | $25.1B | +5% | -4% | 10% | 12.6× | 3.7% | +4.9% |
| Zhongce Rubber Group Co., Ltd. A 603049.SS | China | $2.70B | -19% | +14% | 8% | 9.7× | n/a | n/a |
| Qingdao Sentury Tire 002984.SZ | China | $2.62B | -25% | +2% | 8% | 16.7× | 3.4% | +12.8% |
| Shandong Linglong Tyre 601966.SS | China | $2.32B | -19% | +8% | 3% | 50.3× | -0.4% | +6.0% |
| Nokian Renkaat TYRES.HE | Finland | $2.21B | +37% | +5% | 6% | 27.4× | 19.4% | +0.9% |
| Bridgestone 5108.T | Japan | $31.7B | +28% | +6% | 12% | 14.0× | -1.9% | +10.4% |