ETABLISSEMENTS GERMAIN : revenue, balance sheet and financial ratios

ETABLISSEMENTS GERMAIN is a French company founded 68 years ago, specialized in the sector Fabrication de structures métalliques et de parties de structures. Based in SAINT-MEDARD-EN-JALLES (33160), this company of category PME shows in 2022 a revenue of 1.7 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

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

Financial history - ETABLISSEMENTS GERMAIN (SIREN 458201043)
Indicator 2022 2021 2020 2019 2018 2017 2016
Revenue 1 746 791 € 846 528 € 793 890 € 1 045 495 € 749 505 € 1 030 340 € N/C
Net income 18 232 € 13 678 € 7 186 € 25 406 € 16 800 € 24 119 € 24 432 €
EBITDA 47 732 € 46 265 € 36 079 € 43 561 € 45 839 € 96 018 € N/C
Net margin 1.0% 1.6% 0.9% 2.4% 2.2% 2.3% N/C

Revenue and income statement

In 2022, ETABLISSEMENTS GERMAIN achieves revenue of 1.7 M€. Over the period 2017-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +11.1%. Vs 2021, growth of +106% (847 k€ -> 1.7 M€). After deducting consumption (841 k€), gross margin stands at 906 k€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 48 k€, representing 2.7% of revenue. Warning negative scissor effect: despite revenue change (+106%), EBITDA varies by +3%, reducing margin by 2.7 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 18 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 746 791 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

905 836 €

EBITDA (2022) ?
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

47 732 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

26 488 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

18 232 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

2.7%

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Chart evolution

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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 86%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 44%. 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 8.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

86.39%

Financial autonomy (2022) ?
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

44.397%

Cash flow / Revenue (2022) ?
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

2.283%

Repayment capacity (2022) ?
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

8.395

Asset age ratio (2022) ?
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

56.5%

Solvency indicators evolution
ETABLISSEMENTS GERMAIN

Sector positioning

Debt ratio
86.39 2022
2020
2021
2022
Q1: 6.84
Med: 30.7
Q3: 78.33
Average

In 2022, the debt ratio of ETABLISSEMENTS GERMAIN (86.39) 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
44.4% 2022
2020
2021
2022
Q1: 23.36%
Med: 41.19%
Q3: 58.01%
Good

In 2022, the financial autonomy of ETABLISSEMENTS GERMAIN (44.4%) 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
8.39 years 2022
2020
2021
2022
Q1: 0.03 years
Med: 0.99 years
Q3: 2.84 years
Watch

In 2022, the repayment capacity of ETABLISSEMENTS GERMAIN (8.39) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 349.93. 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 10.6x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2022) ?
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

349.929

Interest coverage (2022) ?
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

10.555

Liquidity indicators evolution
ETABLISSEMENTS GERMAIN

Sector positioning

Liquidity ratio
349.93 2022
2020
2021
2022
Q1: 165.39
Med: 224.71
Q3: 325.18
Excellent

In 2022, the liquidity ratio of ETABLISSEMENTS GERMAIN (349.93) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
10.55x 2022
2020
2021
2022
Q1: 0.01x
Med: 1.02x
Q3: 3.88x
Excellent

In 2022, the interest coverage of ETABLISSEMENTS GERMAIN (10.6x) 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 21 days. The company must finance 25 days of gap between collections and payments. Inventory turnover is 7 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 49 days of revenue, i.e. 239 k€ to permanently finance.

Operating WCR (2022) ?
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

238 682 €

Customer credit (2022) ?
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

46 j

Supplier credit (2022) ?
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

21 j

Inventory turnover (2022) ?
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

7 j

WCR in days of revenue (2022) ?
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

49 j

WCR and payment terms evolution
ETABLISSEMENTS GERMAIN

Positioning of ETABLISSEMENTS GERMAIN in its sector

Comparison with sector Fabrication de structures métalliques et de parties de structures

Valuation estimate

Based on 56 transactions of similar company sales (all years), the value of ETABLISSEMENTS GERMAIN is estimated at 99 188 € (range 56 554€ - 168 320€). With an EBITDA of 47 732€, the sector multiple of 1.0x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2022
56 tx
56k€ 99k€ 168k€
99 188 € Range: 56 554€ - 168 320€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
47 732 € × 1.0x
Estimation 49 491 €
31 777€ - 114 237€
Revenue Multiple 30%
1 746 791 € × 0.13x
Estimation 224 862 €
118 628€ - 285 499€
Net Income Multiple 20%
18 232 € × 1.9x
Estimation 34 918 €
25 386€ - 127 765€
How is this estimate calculated?

This estimate is based on the analysis of 56 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 (Fabrication de structures métalliques et de parties de structures)

Compare ETABLISSEMENTS GERMAIN with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de structures métalliques et de parties de structures

Frequently asked questions about ETABLISSEMENTS GERMAIN

What is the revenue of ETABLISSEMENTS GERMAIN ?

The revenue of ETABLISSEMENTS GERMAIN in 2022 is 1.7 M€.

Is ETABLISSEMENTS GERMAIN profitable?

Yes, ETABLISSEMENTS GERMAIN generated a net profit of 18 k€ in 2022.

Where is the headquarters of ETABLISSEMENTS GERMAIN ?

The headquarters of ETABLISSEMENTS GERMAIN is located in SAINT-MEDARD-EN-JALLES (33160), in the department Gironde.

Where to find the tax return of ETABLISSEMENTS GERMAIN ?

The tax return of ETABLISSEMENTS GERMAIN 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 ETABLISSEMENTS GERMAIN operate?

ETABLISSEMENTS GERMAIN operates in the sector Fabrication de structures métalliques et de parties de structures (NAF code 25.11Z). See the 'Sector positioning' section above to compare the company with its competitors.