MARCOU HABITAT, SOCIETE ANONYME COOPERATIVE D'INTERET COLLECTIF D'HABITATIONS A LOYER MODERE, SOCIETE A CAPITAL VARIABLE : revenue, balance sheet and financial ratios

In 2024, MARCOU HABITAT, SOCIETE ANONYME COOPERATIVE D'INTERET COLLECTIF D'HABITATIONS A LOYER MODERE, SOCIETE A CAPITAL VARIABLE achieves revenue of 31.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.7%. Slight decline of -3% vs 2023. After deducting consumption (61 k€), gross margin stands at 31.3 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 13.6 M€, representing 43.3% of revenue. Positive scissor effect: EBITDA margin improves by +4.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -1.2 M€ (-3.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 402%. 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 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 57.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 16.1% 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 765.38. 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 71.0x. 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: 99 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 18 days. The gap of 81 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 159 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 249 days of revenue, i.e. 21.7 M€ to permanently finance. Over 2016-2024, WCR increased by +157%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of MARCOU HABITAT, SOCIETE ANONYME COOPERATIVE D'INTERET COLLECTIF D'HABITATIONS A LOYER MODERE, SOCIETE A CAPITAL VARIABLE is estimated at 56 943 503 € (range 16 185 960€ - 102 394 017€). With an EBITDA of 13 562 756€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (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.