MAINTENANCE PROCESS INDUSTRIEL : revenue, balance sheet and financial ratios

In 2019, MAINTENANCE PROCESS INDUSTRIEL achieves revenue of 445 k€. Revenue is growing positively over 3 years (CAGR: +2.3%). Vs 2018, growth of +17% (379 k€ -> 445 k€). After deducting consumption (78 k€), gross margin stands at 366 k€, i.e. a rate of 82%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 31 k€, representing 6.9% of revenue. Positive scissor effect: EBITDA margin improves by +11.9 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 29 k€, i.e. 6.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 6%. 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 6.7% 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 170.15. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-1 days): operations structurally generate cash. Over 2017-2019, WCR increased by +93%, requiring additional financing.

Based on 98 transactions of similar company sales (all years), the value of MAINTENANCE PROCESS INDUSTRIEL is estimated at 54 951 € (range 24 478€ - 114 758€). With an EBITDA of 30 805€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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.