CONSTRUCTION MAITRISE OUVRAGE : revenue, balance sheet and financial ratios

In 2024, CONSTRUCTION MAITRISE OUVRAGE achieves revenue of 502 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.2%. Significant drop of -34% vs 2023. After deducting consumption (244 k€), gross margin stands at 258 k€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 25 k€, representing 5.0% of revenue. Warning negative scissor effect: despite revenue change (-34%), EBITDA varies by -92%, reducing margin by 38.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 77 k€, i.e. 15.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 245%. 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 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 12.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 50.9% 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 783.83. 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 500.3x. 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: 238 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 107 days. The gap of 131 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 725 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 1080 days of revenue, i.e. 1.5 M€ to permanently finance. Over 2018-2024, WCR increased by +129%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of CONSTRUCTION MAITRISE OUVRAGE is estimated at 259 278 € (range 108 537€ - 461 910€). With an EBITDA of 25 288€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.