GMS CONSTRUCTION : revenue, balance sheet and financial ratios

GMS CONSTRUCTION is a French company founded 14 years ago, specialized in the sector Travaux de maçonnerie générale et gros œuvre de bâtiment. Based in GRASSE (06130), this company of category PME shows in 2021 a revenue of 135 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - GMS CONSTRUCTION (SIREN 533561114)
Indicator 2021 2020 2019 2018 2017 2016
Revenue 135 408 € 140 009 € 174 596 € 220 739 € 196 075 € 198 732 €
Net income -4 467 € -19 485 € 8 550 € -17 824 € 18 421 € 17 733 €
EBITDA 2 082 € -13 007 € 14 504 € -12 193 € 22 786 € 21 036 €
Net margin -3.3% -13.9% 4.9% -8.1% 9.4% 8.9%

Revenue and income statement

In 2021, GMS CONSTRUCTION achieves revenue of 135 k€. Revenue is declining over the period 2016-2021 (CAGR: -7.4%). Slight decline of -3% vs 2020. After deducting consumption (14 k€), gross margin stands at 121 k€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2 k€, representing 1.5% of revenue. Positive scissor effect: EBITDA margin improves by +10.8 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -4 k€ (-3.3% of revenue), which will impact equity.

Revenue (2021) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

135 408 €

Gross margin (2021) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

121 121 €

EBITDA (2021) ?
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

2 082 €

EBIT (2021) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-4 415 €

Net income (2021) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-4 467 €

EBITDA margin (2021) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

1.5%

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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 83%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 31%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2021) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

82.825%

Financial autonomy (2021) ?
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

31.474%

Cash flow / Revenue (2021) ?
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

1.499%

Repayment capacity (2021) ?
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

0.028

Asset age ratio (2021) ?
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

15.8%

Solvency indicators evolution
GMS CONSTRUCTION

Sector positioning

Debt ratio
82.83 2021
2019
2020
2021
Q1: 1.25
Med: 24.73
Q3: 82.31
Average +22 pts over 3 years

In 2021, the debt ratio of GMS CONSTRUCTION (82.83) 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
31.47% 2021
2019
2020
2021
Q1: 9.07%
Med: 28.57%
Q3: 48.91%
Good +24 pts over 3 years

In 2021, the financial autonomy of GMS CONSTRUCTION (31.5%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
0.03 years 2021
2019
2020
2021
Q1: 0.0 years
Med: 0.1 years
Q3: 1.59 years
Good +5 pts over 3 years

In 2021, the repayment capacity of GMS CONSTRUCTION (0.03) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 140.12. 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 2.5x. Financial charges are adequately covered by operations.

Liquidity ratio (2021) ?
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

140.122

Interest coverage (2021) ?
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

2.546

Liquidity indicators evolution
GMS CONSTRUCTION

Sector positioning

Liquidity ratio
140.12 2021
2019
2020
2021
Q1: 134.47
Med: 189.75
Q3: 282.11
Average -33 pts over 3 years

In 2021, the liquidity ratio of GMS CONSTRUCTION (140.12) 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
2.55x 2021
2019
2020
2021
Q1: 0.0x
Med: 0.02x
Q3: 1.58x
Excellent +11 pts over 3 years

In 2021, the interest coverage of GMS CONSTRUCTION (2.5x) 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: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 8 days. The company must finance 14 days of gap between collections and payments. Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-26 days): operations structurally generate cash. Over 2016-2021, WCR increased by +38%, requiring additional financing.

Operating WCR (2021) ?
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

-9 756 €

Customer credit (2021) ?
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

22 j

Supplier credit (2021) ?
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

8 j

Inventory turnover (2021) ?
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

15 j

WCR in days of revenue (2021) ?
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

-26 j

WCR and payment terms evolution
GMS CONSTRUCTION

Positioning of GMS CONSTRUCTION in its sector

Comparison with sector Travaux de maçonnerie générale et gros œuvre de bâtiment

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 6 650€ to 15 814€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2021
Indicative
6k€ 9k€ 15k€
9 431 € Range: 6 650€ - 15 814€
NAF 5 année 2021

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 28 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 (Travaux de maçonnerie générale et gros œuvre de bâtiment)

Compare GMS CONSTRUCTION with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux de maçonnerie générale et gros œuvre de bâtiment

Frequently asked questions about GMS CONSTRUCTION

What is the revenue of GMS CONSTRUCTION ?

The revenue of GMS CONSTRUCTION in 2021 is 135 k€.

Is GMS CONSTRUCTION profitable?

GMS CONSTRUCTION recorded a net loss in 2021.

Where is the headquarters of GMS CONSTRUCTION ?

The headquarters of GMS CONSTRUCTION is located in GRASSE (06130), in the department Alpes-Maritimes.

Where to find the tax return of GMS CONSTRUCTION ?

The tax return of GMS CONSTRUCTION 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 GMS CONSTRUCTION operate?

GMS CONSTRUCTION operates in the sector Travaux de maçonnerie générale et gros œuvre de bâtiment (NAF code 43.99C). See the 'Sector positioning' section above to compare the company with its competitors.