GIRARD HERVOUET : revenue, balance sheet and financial ratios

GIRARD HERVOUET is a French company founded 39 years ago, specialized in the sector Fabrication de structures métalliques et de parties de structures. Based in CLISSON (44190), this company of category GE shows in 2023 a revenue of 63.2 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

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

Financial history - GIRARD HERVOUET (SIREN 340939529)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 63 150 523 € 68 171 281 € 47 787 350 € 36 337 186 € 41 020 982 € 32 891 072 € 38 157 511 € 37 551 578 €
Net income -10 494 798 € -3 127 544 € 1 161 946 € 1 348 813 € 2 632 129 € 1 784 919 € 810 778 € -2 032 772 €
EBITDA -2 700 226 € 1 323 818 € 2 728 728 € 2 292 491 € 3 663 214 € 2 040 962 € 11 907 809 € 11 588 767 €
Net margin -16.6% -4.6% 2.4% 3.7% 6.4% 5.4% 2.1% -5.4%

Revenue and income statement

In 2023, GIRARD HERVOUET achieves revenue of 63.2 M€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +7.7%. Slight decline of -7% vs 2022. After deducting consumption (19.8 M€), gross margin stands at 43.3 M€, i.e. a rate of 69%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -2.7 M€, representing -4.3% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -304%, reducing margin by 6.2 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -10.5 M€ (-16.6% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

63 150 523 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

43 349 497 €

EBITDA (2023) ?
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

-2 700 226 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-8 388 546 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-10 494 798 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-4.3%

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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 477%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

476.633%

Financial autonomy (2023) ?
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

8.981%

Cash flow / Revenue (2023) ?
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

-4.646%

Repayment capacity (2023) ?
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

-6.934

Asset age ratio (2023) ?
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

64.0%

Solvency indicators evolution
GIRARD HERVOUET

Sector positioning

Debt ratio
476.63 2023
2021
2022
2023
Q1: 7.46
Med: 26.84
Q3: 65.86
Watch +18 pts over 3 years

In 2023, the debt ratio of GIRARD HERVOUET (476.63) 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
8.98% 2023
2021
2022
2023
Q1: 25.01%
Med: 43.11%
Q3: 59.44%
Watch -24 pts over 3 years

In 2023, the financial autonomy of GIRARD HERVOUET (9.0%) ranks in the bottom 25% of the sector. This ratio represents the share of equity in total financing. Low autonomy may limit investment capacity and increase vulnerability.

Repayment capacity
-6.93 years 2023
2021
2022
2023
Q1: 0.04 years
Med: 0.84 years
Q3: 2.26 years
Excellent -47 pts over 3 years

In 2023, the repayment capacity of GIRARD HERVOUET (-6.93) 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 167.41. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2023) ?
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

167.41

Interest coverage (2023) ?
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

-14.506

Liquidity indicators evolution
GIRARD HERVOUET

Sector positioning

Liquidity ratio
167.41 2023
2021
2022
2023
Q1: 168.02
Med: 232.53
Q3: 328.68
Watch

In 2023, the liquidity ratio of GIRARD HERVOUET (167.41) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-14.51x 2023
2021
2022
2023
Q1: 0.06x
Med: 1.31x
Q3: 4.95x
Watch -5 pts over 3 years

In 2023, the interest coverage of GIRARD HERVOUET (-14.5x) 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: 102 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 67 days. The gap of 35 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 26 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 88 days of revenue, i.e. 15.4 M€ to permanently finance. Over 2016-2023, WCR increased by +74%, requiring additional financing.

Operating WCR (2023) ?
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

15 370 837 €

Customer credit (2023) ?
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

102 j

Supplier credit (2023) ?
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

67 j

Inventory turnover (2023) ?
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

26 j

WCR in days of revenue (2023) ?
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

88 j

WCR and payment terms evolution
GIRARD HERVOUET

Positioning of GIRARD HERVOUET 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 GIRARD HERVOUET is estimated at 8 129 288 € (range 4 288 688€ - 10 321 445€). 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 2023
56 tx
4288k€ 8129k€ 10321k€
8 129 288 € Range: 4 288 688€ - 10 321 445€
NAF 5 all-time

Valuation method used

Revenue Multiple
63 150 523 € × 0.13x = 8 129 288 €
Range: 4 288 688€ - 10 321 445€

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 GIRARD HERVOUET 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 GIRARD HERVOUET

What is the revenue of GIRARD HERVOUET ?

The revenue of GIRARD HERVOUET in 2023 is 63.2 M€.

Is GIRARD HERVOUET profitable?

GIRARD HERVOUET recorded a net loss in 2023.

Where is the headquarters of GIRARD HERVOUET ?

The headquarters of GIRARD HERVOUET is located in CLISSON (44190), in the department Loire-Atlantique.

Where to find the tax return of GIRARD HERVOUET ?

The tax return of GIRARD HERVOUET 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 GIRARD HERVOUET operate?

GIRARD HERVOUET 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.