MAINTENANCE INDUSTRIELLE HEAVY : revenue, balance sheet and financial ratios

In 2024, MAINTENANCE INDUSTRIELLE HEAVY achieves revenue of 3.1 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +15.0%. Slight decline of -5% vs 2023. After deducting consumption (1.4 M€), gross margin stands at 1.7 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 137 k€, representing 4.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.4 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -183 k€ (-5.9% 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 -20%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 4.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 75.08. 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 10.2x. 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: 176 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 357 days. Excellent situation: suppliers finance 181 days of the operating cycle (retail model). Inventory turnover is 120 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 142 days of revenue, i.e. 1.2 M€ to permanently finance. Over 2018-2024, WCR increased by +191%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of MAINTENANCE INDUSTRIELLE HEAVY is estimated at 398 643 € (range 226 388€ - 1 076 831€). With an EBITDA of 136 895€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.27x (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.