CIE FINANCIERE GEORGES MANUEL - CFGM : revenue, balance sheet and financial ratios

CIE FINANCIERE GEORGES MANUEL - CFGM is a French company founded 23 years ago, specialized in the sector Activités des sièges sociaux. Based in ASNIERES-SUR-SEINE (92600), this company of category PME shows in 2023 a revenue of 446 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

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

Financial history - CIE FINANCIERE GEORGES MANUEL - CFGM (SIREN 442426474)
Indicator 2023 2022 2021 2020 2019 2018 2017
Revenue 446 242 € 440 837 € 454 213 € 428 388 € 561 067 € 620 125 € 631 948 €
Net income 209 588 € 140 333 € 146 429 € 184 090 € 207 681 € 298 578 € 397 628 €
EBITDA 117 859 € 48 557 € 42 392 € 19 888 € 14 757 € 39 792 € 44 631 €
Net margin 47.0% 31.8% 32.2% 43.0% 37.0% 48.1% 62.9%

Revenue and income statement

In 2023, CIE FINANCIERE GEORGES MANUEL - CFGM achieves revenue of 446 k€. Revenue is declining over the period 2017-2023 (CAGR: -5.6%). Vs 2022: +1%. After deducting consumption (-26 k€), gross margin stands at 472 k€, i.e. a rate of 106%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 118 k€, representing 26.4% of revenue. Positive scissor effect: EBITDA margin improves by +15.4 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 210 k€, i.e. 47.0% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

446 242 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

471 926 €

EBITDA (2023) ?
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

117 859 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

112 916 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

209 588 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

26.4%

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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 78%. 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 5.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 49.5% 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 (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

78.316%

Financial autonomy (2023) ?
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

51.354%

Cash flow / Revenue (2023) ?
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

49.475%

Repayment capacity (2023) ?
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

5.634

Asset age ratio (2023) ?
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

46.0%

Solvency indicators evolution
CIE FINANCIERE GEORGES MANUEL - CFGM

Sector positioning

Debt ratio
78.32 2023
2021
2022
2023
Q1: 0.15
Med: 18.7
Q3: 101.8
Average -7 pts over 3 years

In 2023, the debt ratio of CIE FINANCIERE GEORGES MA... (78.32) 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
51.35% 2023
2021
2022
2023
Q1: 13.7%
Med: 51.31%
Q3: 84.16%
Good +11 pts over 3 years

In 2023, the financial autonomy of CIE FINANCIERE GEORGES MA... (51.4%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
5.63 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.21 years
Q3: 3.84 years
Average

In 2023, the repayment capacity of CIE FINANCIERE GEORGES MA... (5.63) 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 350.05. 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 39.5x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2023) ?
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

350.047

Interest coverage (2023) ?
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

39.518

Liquidity indicators evolution
CIE FINANCIERE GEORGES MANUEL - CFGM

Sector positioning

Liquidity ratio
350.05 2023
2021
2022
2023
Q1: 110.28
Med: 414.47
Q3: 1925.09
Average +8 pts over 3 years

In 2023, the liquidity ratio of CIE FINANCIERE GEORGES MA... (350.05) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
39.52x 2023
2021
2022
2023
Q1: -38.49x
Med: 0.0x
Q3: 2.71x
Excellent

In 2023, the interest coverage of CIE FINANCIERE GEORGES MA... (39.5x) 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: 37 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 115 days. Excellent situation: suppliers finance 78 days of the operating cycle (retail model). Overall, WCR represents 545 days of revenue, i.e. 676 k€ to permanently finance. Over 2017-2023, WCR increased by +51%, requiring additional financing.

Operating WCR (2023) ?
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

676 021 €

Customer credit (2023) ?
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

37 j

Supplier credit (2023) ?
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

115 j

Inventory turnover (2023) ?
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

0 j

WCR in days of revenue (2023) ?
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

545 j

WCR and payment terms evolution
CIE FINANCIERE GEORGES MANUEL - CFGM

Positioning of CIE FINANCIERE GEORGES MANUEL - CFGM in its sector

Comparison with sector Activités des sièges sociaux

Valuation estimate

Based on 89 transactions of similar company sales in 2023, the value of CIE FINANCIERE GEORGES MANUEL - CFGM is estimated at 589 364 € (range 284 717€ - 1 159 915€). With an EBITDA of 117 859€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.52x (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.

Estimated enterprise value 2023
89 tx
284k€ 589k€ 1159k€
589 364 € Range: 284 717€ - 1 159 915€
NAF 5 année 2023

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
117 859 € × 4.0x
Estimation 473 943 €
243 119€ - 769 628€
Revenue Multiple 30%
446 242 € × 0.52x
Estimation 233 643 €
95 576€ - 414 071€
Net Income Multiple 20%
209 588 € × 6.7x
Estimation 1 411 503 €
672 424€ - 3 254 400€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 89 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 (Activités des sièges sociaux)

Compare CIE FINANCIERE GEORGES MANUEL - CFGM with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des sièges sociaux

Frequently asked questions about CIE FINANCIERE GEORGES MANUEL - CFGM

What is the revenue of CIE FINANCIERE GEORGES MANUEL - CFGM ?

The revenue of CIE FINANCIERE GEORGES MANUEL - CFGM in 2023 is 446 k€.

Is CIE FINANCIERE GEORGES MANUEL - CFGM profitable?

Yes, CIE FINANCIERE GEORGES MANUEL - CFGM generated a net profit of 210 k€ in 2023.

Where is the headquarters of CIE FINANCIERE GEORGES MANUEL - CFGM ?

The headquarters of CIE FINANCIERE GEORGES MANUEL - CFGM is located in ASNIERES-SUR-SEINE (92600), in the department Hauts-de-Seine.

Where to find the tax return of CIE FINANCIERE GEORGES MANUEL - CFGM ?

The tax return of CIE FINANCIERE GEORGES MANUEL - CFGM 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 CIE FINANCIERE GEORGES MANUEL - CFGM operate?

CIE FINANCIERE GEORGES MANUEL - CFGM operates in the sector Activités des sièges sociaux (NAF code 70.10Z). See the 'Sector positioning' section above to compare the company with its competitors.