FEEDER : revenue, balance sheet and financial ratios

FEEDER is a French company founded 42 years ago, specialized in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels. Based in LA CIOTAT (13600), this company of category PME shows in 2025 a revenue of 25.0 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 - FEEDER (SIREN 328658141)
Indicator 2025 2024 2023 2022 2021 2020 2019 2017
Revenue 25 031 778 € 27 426 049 € 28 068 695 € 27 451 650 € 24 100 413 € 25 266 678 € 26 069 392 € 25 266 146 €
Net income -119 466 € 1 822 € 304 329 € 173 535 € 253 682 € 112 672 € 121 396 € 79 563 €
EBITDA 231 510 € 377 043 € 608 042 € 319 442 € 837 478 € 392 969 € 161 216 € 36 526 €
Net margin -0.5% 0.0% 1.1% 0.6% 1.1% 0.4% 0.5% 0.3%

Revenue and income statement

In 2025, FEEDER achieves revenue of 25.0 M€. Activity remains stable over the period (CAGR: -0.1%). Slight decline of -9% vs 2024. After deducting consumption (20.8 M€), gross margin stands at 4.2 M€, i.e. a rate of 17%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 232 k€, representing 0.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -119 k€ (-0.5% 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

25 031 778 €

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

4 225 455 €

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

231 510 €

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

52 652 €

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

-119 466 €

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

0.9%

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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 92%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 25.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

92.348%

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

32.465%

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

0.472%

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

25.25

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

38.2%

Solvency indicators evolution
FEEDER

Sector positioning

Debt ratio
92.35 2025
2023
2024
2025
Q1: 0.02
Med: 9.71
Q3: 47.48
Watch

In 2025, the debt ratio of FEEDER (92.35) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
32.47% 2025
2023
2024
2025
Q1: 19.0%
Med: 39.2%
Q3: 59.69%
Average -9 pts over 3 years

In 2025, the financial autonomy of FEEDER (32.5%) 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
25.25 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.11 years
Q3: 1.8 years
Watch

In 2025, the repayment capacity of FEEDER (25.25) 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 196.93. 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 154.3x. Operating income very largely covers interest expenses: high safety margin.

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

196.932

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

154.265

Liquidity indicators evolution
FEEDER

Sector positioning

Liquidity ratio
196.93 2025
2023
2024
2025
Q1: 152.46
Med: 216.4
Q3: 341.64
Average +11 pts over 3 years

In 2025, the liquidity ratio of FEEDER (196.93) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
154.26x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.7x
Q3: 7.18x
Excellent +23 pts over 3 years

In 2025, the interest coverage of FEEDER (154.3x) 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: 7 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 4 days. The company must finance 3 days of gap between collections and payments. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 42 days of revenue, i.e. 2.9 M€ to permanently finance. Notable WCR improvement over the period (-21%), freeing up cash.

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

2 896 427 €

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

7 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

4 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

24 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

42 j

WCR and payment terms evolution
FEEDER

Positioning of FEEDER in its sector

Comparison with sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Valuation estimate

Based on 61 transactions of similar company sales (all years), the value of FEEDER is estimated at 3 445 230 € (range 978 492€ - 4 825 276€). With an EBITDA of 231 510€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.33x (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
61 tx
978k€ 3445k€ 4825k€
3 445 230 € Range: 978 492€ - 4 825 276€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
231 510 € × 2.5x
Estimation 578 666 €
126 613€ - 1 175 324€
Revenue Multiple 30%
25 031 778 € × 0.33x
Estimation 8 222 839 €
2 398 291€ - 10 908 531€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 61 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 (Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels)

Compare FEEDER with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels

Frequently asked questions about FEEDER

What is the revenue of FEEDER ?

The revenue of FEEDER in 2025 is 25.0 M€.

Is FEEDER profitable?

FEEDER recorded a net loss in 2025.

Where is the headquarters of FEEDER ?

The headquarters of FEEDER is located in LA CIOTAT (13600), in the department Bouches-du-Rhone.

Where to find the tax return of FEEDER ?

The tax return of FEEDER 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 FEEDER operate?

FEEDER operates in the sector Commerce de gros (commerce interentreprises) d'ordinateurs, d'équipements informatiques périphériques et de logiciels (NAF code 46.51Z). See the 'Sector positioning' section above to compare the company with its competitors.