ARMURERIE DESFORGES : revenue, balance sheet and financial ratios

ARMURERIE DESFORGES is a French company founded 14 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers. Based in MAREAU-AUX-BOIS (45300), this company of category PME shows in 2018 a revenue of 567 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - ARMURERIE DESFORGES (SIREN 533949665)
Indicator 2018 2017
Revenue 566 807 € 545 022 €
Net income 49 081 € 39 251 €
EBITDA 68 492 € 57 666 €
Net margin 8.7% 7.2%

Revenue and income statement

In 2018, ARMURERIE DESFORGES achieves revenue of 567 k€. Vs 2017: +4%. After deducting consumption (369 k€), gross margin stands at 198 k€, i.e. a rate of 35%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 68 k€, representing 12.1% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 49 k€, i.e. 8.7% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2018) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

566 807 €

Gross margin (2018) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

197 571 €

EBITDA (2018) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

68 492 €

EBIT (2018) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

60 220 €

Net income (2018) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

49 081 €

EBITDA margin (2018) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

12.0%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 68%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2018) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

67.762%

Financial autonomy (2018) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

37.652%

Cash flow / Revenue (2018) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

10.2%

Repayment capacity (2018) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

1.533

Asset age ratio (2018) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

71.5%

Solvency indicators evolution
ARMURERIE DESFORGES

Sector positioning

Debt ratio
67.76 2018
2017
2018
Q1: 0.05
Med: 8.17
Q3: 40.0
Average

In 2018, the debt ratio of ARMURERIE DESFORGES (67.76) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
37.65% 2018
2017
2018
Q1: 23.15%
Med: 43.45%
Q3: 62.78%
Average

In 2018, the financial autonomy of ARMURERIE DESFORGES (37.6%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
1.53 years 2018
2017
2018
Q1: 0.0 years
Med: 0.07 years
Q3: 1.33 years
Average

In 2018, the repayment capacity of ARMURERIE DESFORGES (1.53) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 212.64. 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 4.2x. Financial charges are adequately covered by operations.

Liquidity ratio (2018) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

212.639

Interest coverage (2018) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

4.158

Liquidity indicators evolution
ARMURERIE DESFORGES

Sector positioning

Liquidity ratio
212.64 2018
2017
2018
Q1: 151.66
Med: 210.89
Q3: 328.2
Good

In 2018, the liquidity ratio of ARMURERIE DESFORGES (212.64) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
4.16x 2018
2017
2018
Q1: 0.0x
Med: 0.5x
Q3: 3.83x
Excellent

In 2018, the interest coverage of ARMURERIE DESFORGES (4.2x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 14 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 211 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 102 days of revenue, i.e. 160 k€ to permanently finance.

Operating WCR (2018) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

160 049 €

Customer credit (2018) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

0 j

Supplier credit (2018) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

14 j

Inventory turnover (2018) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

211 j

WCR in days of revenue (2018) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

102 j

WCR and payment terms evolution
ARMURERIE DESFORGES

Positioning of ARMURERIE DESFORGES in its sector

Comparison with sector Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers

Valuation estimate

Based on 58 transactions of similar company sales in 2018, the value of ARMURERIE DESFORGES is estimated at 123 960 € (range 54 301€ - 274 525€). With an EBITDA of 68 492€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.12x (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.

Estimated enterprise value 2018
58 tx
54k€ 123k€ 274k€
123 960 € Range: 54 301€ - 274 525€
NAF 5 année 2018

Valuation detail by method

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EBITDA Multiple 50%
68 492 € × 2.3x
Estimation 159 703 €
52 355€ - 344 194€
Revenue Multiple 30%
566 807 € × 0.12x
Estimation 66 723 €
47 413€ - 134 572€
Net Income Multiple 20%
49 081 € × 2.5x
Estimation 120 458 €
69 501€ - 310 286€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 58 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers)

Compare ARMURERIE DESFORGES with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers

Frequently asked questions about ARMURERIE DESFORGES

What is the revenue of ARMURERIE DESFORGES ?

The revenue of ARMURERIE DESFORGES in 2018 is 567 k€.

Is ARMURERIE DESFORGES profitable?

Yes, ARMURERIE DESFORGES generated a net profit of 49 k€ in 2018.

Where is the headquarters of ARMURERIE DESFORGES ?

The headquarters of ARMURERIE DESFORGES is located in MAREAU-AUX-BOIS (45300), in the department Loiret.

Where to find the tax return of ARMURERIE DESFORGES ?

The tax return of ARMURERIE DESFORGES is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does ARMURERIE DESFORGES operate?

ARMURERIE DESFORGES operates in the sector Commerce de gros (commerce interentreprises) de fournitures et équipements industriels divers (NAF code 46.69B). See the 'Sector positioning' section above to compare the company with its competitors.