ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES : revenue, balance sheet and financial ratios

ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES is a French company founded 14 years ago, specialized in the sector Fabrication de structures métalliques et de parties de structures. Based in LA GOUESNIERE (35350), this company of category PME shows in 2025 a revenue of 1.6 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES (SIREN 532594272)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2017
Revenue 1 583 974 € 1 598 550 € 2 063 042 € 1 956 613 € 1 622 061 € 1 273 797 € 1 113 435 € 2 056 237 € 1 983 491 €
Net income -229 396 € -147 334 € 3 861 € 170 960 € -41 173 € -258 376 € -504 975 € 84 906 € -34 239 €
EBITDA -230 710 € -135 501 € 20 157 € 216 129 € -2 328 € -209 376 € -462 716 € 66 393 € 33 012 €
Net margin -14.5% -9.2% 0.2% 8.7% -2.5% -20.3% -45.4% 4.1% -1.7%

Revenue and income statement

In 2025, ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES achieves revenue of 1.6 M€. Activity remains stable over the period (CAGR: -2.8%). Slight decline of -1% vs 2024. After deducting consumption (301 k€), gross margin stands at 1.3 M€, i.e. a rate of 81%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -231 k€, representing -14.6% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -70%, reducing margin by 6.1 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -229 k€ (-14.5% of revenue), which will impact equity.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 583 974 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

1 283 232 €

EBITDA (2025) ?
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

-230 710 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-231 518 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-229 396 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-14.5%

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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 95%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

95.369%

Financial autonomy (2025) ?
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

38.031%

Cash flow / Revenue (2025) ?
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

-15.134%

Repayment capacity (2025) ?
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

-1.688

Asset age ratio (2025) ?
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

7.9%

Solvency indicators evolution
ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES

Sector positioning

Debt ratio
95.37 2025
2023
2024
2025
Q1: 5.64
Med: 18.98
Q3: 52.16
Average +28 pts over 3 years

In 2025, the debt ratio of ETS MENAUT - SOCIETE ARMO... (95.37) 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
38.03% 2025
2023
2024
2025
Q1: 35.24%
Med: 50.44%
Q3: 64.86%
Average -45 pts over 3 years

In 2025, the financial autonomy of ETS MENAUT - SOCIETE ARMO... (38.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-1.69 years 2025
2023
2024
2025
Q1: 0.01 years
Med: 0.83 years
Q3: 2.08 years
Excellent -51 pts over 3 years

In 2025, the repayment capacity of ETS MENAUT - SOCIETE ARMO... (-1.69) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 350.24. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2025) ?
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

350.237

Interest coverage (2025) ?
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

-7.058

Liquidity indicators evolution
ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES

Sector positioning

Liquidity ratio
350.24 2025
2023
2024
2025
Q1: 181.0
Med: 238.58
Q3: 334.08
Excellent

In 2025, the liquidity ratio of ETS MENAUT - SOCIETE ARMO... (350.24) 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
-7.06x 2025
2023
2024
2025
Q1: 0.28x
Med: 2.4x
Q3: 7.56x
Watch -26 pts over 3 years

In 2025, the interest coverage of ETS MENAUT - SOCIETE ARMO... (-7.1x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 70 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 74 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 136 days of revenue, i.e. 599 k€ to permanently finance. Over 2017-2025, WCR increased by +62%, requiring additional financing.

Operating WCR (2025) ?
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

598 679 €

Customer credit (2025) ?
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

70 j

Supplier credit (2025) ?
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

49 j

Inventory turnover (2025) ?
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

74 j

WCR in days of revenue (2025) ?
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

136 j

WCR and payment terms evolution
ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES

Positioning of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES 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 ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES is estimated at 203 902 € (range 107 571€ - 258 887€). 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 2025
56 tx
107k€ 203k€ 258k€
203 902 € Range: 107 571€ - 258 887€
NAF 5 all-time

Valuation method used

Revenue Multiple
1 583 974 € × 0.13x = 203 903 €
Range: 107 571€ - 258 888€

Only this financial indicator is available for this company.

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 ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES 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 ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES

What is the revenue of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES ?

The revenue of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES in 2025 is 1.6 M€.

Is ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES profitable?

ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES recorded a net loss in 2025.

Where is the headquarters of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES ?

The headquarters of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES is located in LA GOUESNIERE (35350), in the department Ille-et-Vilaine.

Where to find the tax return of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES ?

The tax return of ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES 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 MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES operate?

ETS MENAUT - SOCIETE ARMORICAINE DE CONSTRUCTIONS METALLIQUES 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.