ETS BESSON MICHEL : revenue, balance sheet and financial ratios

ETS BESSON MICHEL is a French company founded 29 years ago, specialized in the sector Activités spécialisées, scientifiques et techniques diverses. Based in CAHORS (46000), this company of category PME shows in 2021 a revenue of 802 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - ETS BESSON MICHEL (SIREN 408454478)
Indicator 2021 2020 2019 2018 2017 2016
Revenue 802 200 € 1 334 716 € 521 023 € 148 971 € 104 606 € 226 049 €
Net income 128 625 € 539 264 € 194 182 € -10 901 € -25 717 € -22 812 €
EBITDA 260 114 € 804 738 € 257 042 € 13 514 € -11 014 € -3 116 €
Net margin 16.0% 40.4% 37.3% -7.3% -24.6% -10.1%

Revenue and income statement

In 2021, ETS BESSON MICHEL achieves revenue of 802 k€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +28.8%. Significant drop of -40% vs 2020. After deducting consumption (92 k€), gross margin stands at 710 k€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 260 k€, representing 32.4% of revenue. Warning negative scissor effect: despite revenue change (-40%), EBITDA varies by -68%, reducing margin by 27.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 129 k€, i.e. 16.0% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2021) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

802 200 €

Gross margin (2021) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

710 380 €

EBITDA (2021) ?
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

260 114 €

EBIT (2021) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

182 293 €

Net income (2021) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

128 625 €

EBITDA margin (2021) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

32.4%

Loading income statement...

Chart evolution

Show :

Assets

Loading data...

Liabilities

Loading data...

Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 36%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 71%. 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 1.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 25.7% 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 (2021) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

35.647%

Financial autonomy (2021) ?
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

70.748%

Cash flow / Revenue (2021) ?
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

25.68%

Repayment capacity (2021) ?
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

1.603

Asset age ratio (2021) ?
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

35.2%

Solvency indicators evolution
ETS BESSON MICHEL

Sector positioning

Debt ratio
35.65 2021
2019
2020
2021
Q1: 0.0
Med: 6.26
Q3: 65.01
Average -12 pts over 3 years

In 2021, the debt ratio of ETS BESSON MICHEL (35.65) 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
70.75% 2021
2019
2020
2021
Q1: 4.55%
Med: 34.48%
Q3: 64.36%
Excellent +20 pts over 3 years

In 2021, the financial autonomy of ETS BESSON MICHEL (70.8%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
1.6 years 2021
2019
2020
2021
Q1: 0.0 years
Med: 0.0 years
Q3: 0.69 years
Average

In 2021, the repayment capacity of ETS BESSON MICHEL (1.60) 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 1708.23. 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 4.5x. Financial charges are adequately covered by operations.

Liquidity ratio (2021) ?
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

1708.232

Interest coverage (2021) ?
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

4.486

Liquidity indicators evolution
ETS BESSON MICHEL

Sector positioning

Liquidity ratio
1708.23 2021
2019
2020
2021
Q1: 139.97
Med: 254.23
Q3: 496.51
Excellent

In 2021, the liquidity ratio of ETS BESSON MICHEL (1708.23) 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
4.49x 2021
2019
2020
2021
Q1: 0.0x
Med: 0.0x
Q3: 0.38x
Excellent +19 pts over 3 years

In 2021, the interest coverage of ETS BESSON MICHEL (4.5x) 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: 14 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. Favorable situation: supplier credit is longer than customer credit by 8 days. Overall, WCR represents 43 days of revenue, i.e. 96 k€ to permanently finance. Over 2016-2021, WCR increased by +77%, requiring additional financing.

Operating WCR (2021) ?
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

95 959 €

Customer credit (2021) ?
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

14 j

Supplier credit (2021) ?
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

22 j

Inventory turnover (2021) ?
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 (2021) ?
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

43 j

WCR and payment terms evolution
ETS BESSON MICHEL

Positioning of ETS BESSON MICHEL in its sector

Comparison with sector Activités spécialisées, scientifiques et techniques diverses

Valuation estimate

Based on 98 transactions of similar company sales (all years), the value of ETS BESSON MICHEL is estimated at 662 882 € (range 166 130€ - 1 096 661€). With an EBITDA of 260 114€, the sector multiple of 3.5x is applied. The price/revenue ratio is 0.36x (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 2021
98 tx
166k€ 662k€ 1096k€
662 882 € Range: 166 130€ - 1 096 661€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
260 114 € × 3.5x
Estimation 901 098 €
224 533€ - 1 477 238€
Revenue Multiple 30%
802 200 € × 0.36x
Estimation 291 587 €
95 748€ - 493 381€
Net Income Multiple 20%
128 625 € × 4.9x
Estimation 624 288 €
125 696€ - 1 050 139€
How is this estimate calculated?

This estimate is based on the analysis of 98 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 spécialisées, scientifiques et techniques diverses)

Compare ETS BESSON MICHEL with other companies in the same sector:

Voir toutes les statistiques du secteur Activités spécialisées, scientifiques et techniques diverses

Frequently asked questions about ETS BESSON MICHEL

What is the revenue of ETS BESSON MICHEL ?

The revenue of ETS BESSON MICHEL in 2021 is 802 k€.

Is ETS BESSON MICHEL profitable?

Yes, ETS BESSON MICHEL generated a net profit of 129 k€ in 2021.

Where is the headquarters of ETS BESSON MICHEL ?

The headquarters of ETS BESSON MICHEL is located in CAHORS (46000), in the department Lot.

Where to find the tax return of ETS BESSON MICHEL ?

The tax return of ETS BESSON MICHEL 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 ETS BESSON MICHEL operate?

ETS BESSON MICHEL operates in the sector Activités spécialisées, scientifiques et techniques diverses (NAF code 74.90B). See the 'Sector positioning' section above to compare the company with its competitors.