GROUPE MAINTENANCE SERVICE FRANCE GMS FRANCE : revenue, balance sheet and financial ratios

In 2024, GROUPE MAINTENANCE SERVICE FRANCE GMS FRANCE achieves revenue of 1.3 M€. Activity remains stable over the period (CAGR: -1.7%). Slight decline of -7% vs 2023. After deducting consumption (636 k€), gross margin stands at 620 k€, i.e. a rate of 49%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 18 k€, representing 1.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 159%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 11%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 132.89. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 39.3x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 107 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 82 days. The company must finance 25 days of gap between collections and payments. Inventory turnover is 68 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 104 days of revenue, i.e. 362 k€ to permanently finance. Over 2015-2024, WCR increased by +180%, requiring additional financing.

Based on 61 transactions of similar company sales (all years), the value of GROUPE MAINTENANCE SERVICE FRANCE GMS FRANCE is estimated at 151 485 € (range 42 271€ - 221 598€). With an EBITDA of 18 499€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.33x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.