MAEGHT EDITEUR SA : revenue, balance sheet and financial ratios

In 2024, MAEGHT EDITEUR SA achieves revenue of 1.1 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.5%. Vs 2023, growth of +28% (856 k€ -> 1.1 M€). After deducting consumption (106 k€), gross margin stands at 989 k€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 73 k€, representing 6.7% of revenue. Positive scissor effect: EBITDA margin improves by +24.0 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 259 k€, i.e. 23.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 192%. 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 30%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 42.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 9.5% 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 2809.16. 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 35.2x. 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: 198 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 114 days. The gap of 84 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 2463 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 2428 days of revenue, i.e. 7.4 M€ to permanently finance.

Based on 104 transactions of similar company sales (all years), the value of MAEGHT EDITEUR SA is estimated at 350 881 € (range 116 475€ - 755 365€). With an EBITDA of 73 020€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.