BERNARD GAUTHIER MERRANDIER : revenue, balance sheet and financial ratios

In 2025, BERNARD GAUTHIER MERRANDIER achieves revenue of 3.7 M€. Revenue is growing positively over 10 years (CAGR: +4.2%). Vs 2024, growth of +11% (3.3 M€ -> 3.7 M€). After deducting consumption (2.2 M€), gross margin stands at 1.5 M€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 549 k€, representing 14.9% of revenue. Positive scissor effect: EBITDA margin improves by +2.2 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 317 k€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 84%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 6.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 9.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 1547.97. 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 15.3x. 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: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 28 days. The gap of 33 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 394 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 433 days of revenue, i.e. 4.4 M€ to permanently finance. Over 2016-2025, WCR increased by +398%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (34 transactions). This range of 285 133€ to 1 187 902€ is provided for information purposes only and requires in-depth analysis to be confirmed.