I have understood your perspective. I appreciate you sharing your thought process.
You have correctly considered the Valuation part, and the bit about the company’s ability to generate FCF, but what remains to be considered is a very important feature, for which the market readily pays a pretty penny: The Future Growth.
In other words, once we establish that the company is good, with a reliable management and a dependable business model, we need to see that for the price we are paying, which company is giving the most:
Future Growth.
It is my opinion that, Goodyear is priced low, even in this bullish environment, because the market does not believe that it will grow at a pace as good as its peers.
I suggest, once we settle on the fact that the overall health of the company is good enough and management is reliable, we should shortlist them for purchase only if they have ability to capture growth in near future.
Donald, too, emphasized on this point here. Read point #8.