DISTRIVERRE MIROITERIE : revenue, balance sheet and financial ratios

In 2024, DISTRIVERRE MIROITERIE achieves revenue of 1.4 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.1%. Significant drop of -15% vs 2023. After deducting consumption (634 k€), gross margin stands at 784 k€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4 k€, representing 0.3% of revenue. Warning negative scissor effect: despite revenue change (-15%), EBITDA varies by -94%, reducing margin by 4.0 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -18 k€ (-1.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 124%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 67.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 146.25. 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 142.3x. 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: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 55 days of revenue, i.e. 215 k€ to permanently finance. Over 2019-2024, WCR increased by +28%, requiring additional financing.

Based on 228 transactions of similar company sales (all years), the value of DISTRIVERRE MIROITERIE is estimated at 72 202 € (range 48 263€ - 213 129€). With an EBITDA of 4 243€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.