ENTREPRISE MARION : revenue, balance sheet and financial ratios

In 2023, ENTREPRISE MARION achieves revenue of 11.6 M€. Over the period 2015-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +6.4%. Slight decline of -10% vs 2022. After deducting consumption (723 k€), gross margin stands at 10.9 M€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 858 k€, representing 7.4% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -49%, reducing margin by 5.6 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 601 k€, i.e. 5.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.5% 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 182.13. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 101 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. The company must finance 20 days of gap between collections and payments. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 97 days of revenue, i.e. 3.1 M€ to permanently finance. Over 2015-2023, WCR increased by +81%, requiring additional financing.

Based on 120 transactions of similar company sales (all years), the value of ENTREPRISE MARION is estimated at 1 791 633 € (range 676 942€ - 4 433 112€). With an EBITDA of 857 506€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.22x (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.