MAK INVEST : revenue, balance sheet and financial ratios

In 2024, MAK INVEST achieves revenue of 60 k€. Activity remains stable over the period (CAGR: 0.0%). Slight decline of 0% vs 2023. After deducting consumption (0 €), gross margin stands at 60 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 32 k€, representing 53.5% of revenue. Warning negative scissor effect: despite revenue change (+0%), EBITDA varies by -41%, reducing margin by 36.8 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 182 k€, i.e. 303.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 309.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 2965.70. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 340 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 11 days. The gap of 329 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 1473 days of revenue, i.e. 245 k€ to permanently finance. Over 2020-2024, WCR increased by +59%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of MAK INVEST is estimated at 332 617 € (range 115 787€ - 754 356€). With an EBITDA of 32 120€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (in line with sector norms). 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.