HOLDING FRANCOIS MARY : revenue, balance sheet and financial ratios

In 2024, HOLDING FRANCOIS MARY achieves revenue of 28.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +29.8%. Slight decline of -5% vs 2023. After deducting consumption (216 k€), gross margin stands at 28.1 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.7 M€, representing 23.5% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -32%, reducing margin by 9.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 16.0 M€, i.e. 56.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 66%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 55%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 37.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 308.70. 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 42.6x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 314 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 104 days. The gap of 210 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 661 days of revenue, i.e. 52.1 M€ to permanently finance. Over 2016-2024, WCR increased by +30290%, requiring additional financing.

Based on 103 transactions of similar company sales in 2024, the value of HOLDING FRANCOIS MARY is estimated at 50 359 294 € (range 14 848 293€ - 116 025 617€). With an EBITDA of 6 666 343€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.