ETS CHARLES MILLION ET BERNARD MARAIS : revenue, balance sheet and financial ratios

In 2024, ETS CHARLES MILLION ET BERNARD MARAIS achieves revenue of 3.4 M€. Revenue is growing positively over 9 years (CAGR: +1.4%). Vs 2023, growth of +62% (2.1 M€ -> 3.4 M€). After deducting consumption (732 k€), gross margin stands at 2.7 M€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 136 k€, representing 4.0% of revenue. Warning negative scissor effect: despite revenue change (+62%), EBITDA varies by -23%, reducing margin by 4.5 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 43 k€, i.e. 1.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 79%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 40%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 199.34. 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 14.9x. 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: 39 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. Favorable situation: supplier credit is longer than customer credit by 3 days. Inventory turnover is 35 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 44 days of revenue, i.e. 415 k€ to permanently finance. Notable WCR improvement over the period (-24%), freeing up cash.

Based on 108 transactions of similar company sales (all years), the value of ETS CHARLES MILLION ET BERNARD MARAIS is estimated at 561 850 € (range 213 452€ - 1 030 907€). With an EBITDA of 135 979€, the sector multiple of 2.4x 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.