FICOMIRRORS FRANCE SAS : revenue, balance sheet and financial ratios

In 2024, FICOMIRRORS FRANCE SAS achieves revenue of 70.4 M€. Activity remains stable over the period (CAGR: -2.8%). Significant drop of -11% vs 2023. After deducting consumption (48.0 M€), gross margin stands at 22.4 M€, i.e. a rate of 32%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.1 M€, representing 4.3% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -55%, reducing margin by 4.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -5.5 M€ (-7.9% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 48%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 5.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 223.11. 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 1.3x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 55 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 104 days. Excellent situation: suppliers finance 49 days of the operating cycle (retail model). Inventory turnover is 40 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 169 days of revenue, i.e. 33.1 M€ to permanently finance. Over 2015-2024, WCR increased by +130%, requiring additional financing.

Based on 228 transactions of similar company sales (all years), the value of FICOMIRRORS FRANCE SAS is estimated at 6 330 492 € (range 3 252 336€ - 17 690 589€). With an EBITDA of 3 061 628€, the sector multiple of 1.5x 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.