BERENICE ET PATRICK MERCIER PARTICIPATIONS : revenue, balance sheet and financial ratios

In 2024, BERENICE ET PATRICK MERCIER PARTICIPATIONS achieves revenue of 306 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.3%. Significant drop of -38% vs 2023. After deducting consumption (0 €), gross margin stands at 306 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 153 k€, representing 49.9% of revenue. Positive scissor effect: EBITDA margin improves by +21.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.0 M€, i.e. 650.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 70%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 733.1% 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 324.87. 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 63.3x. 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: 360 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 94 days. The gap of 266 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 442 days of revenue, i.e. 376 k€ to permanently finance. Over 2018-2024, WCR increased by +123%, requiring additional financing.

Based on 173 transactions of similar company sales (all years), the value of BERENICE ET PATRICK MERCIER PARTICIPATIONS is estimated at 1 700 698 € (range 578 741€ - 4 382 446€). With an EBITDA of 152 601€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.