MAK ETANCHEITE : revenue, balance sheet and financial ratios

MAK ETANCHEITE is a French company founded 6 years ago, specialized in the sector Travaux d'étanchéification. Based in TOULOUSE (31100), this company of category PME shows in 2022 a revenue of 120 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 - MAK ETANCHEITE (SIREN 881242762)
Indicator 2022 2021 2020
Revenue 120 205 € 110 075 € 44 284 €
Net income -4 660 € 8 551 € 1 183 €
EBITDA -6 814 € 10 211 € 1 406 €
Net margin -3.9% 7.8% 2.7%

Revenue and income statement

In 2022, MAK ETANCHEITE achieves revenue of 120 k€. Over the period 2020-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +64.8%. Vs 2021: +9%. After deducting consumption (271 €), gross margin stands at 120 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -7 k€, representing -5.7% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -167%, reducing margin by 14.9 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -5 k€ (-3.9% of revenue), which will impact equity.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

120 205 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

119 934 €

EBITDA (2022) ?
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

-6 814 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-3 915 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-4 660 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-5.7%

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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 293%. 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 13%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

293.381%

Financial autonomy (2022) ?
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

13.27%

Cash flow / Revenue (2022) ?
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

-6.459%

Repayment capacity (2022) ?
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

-2.295

Asset age ratio (2022) ?
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

74.9%

Solvency indicators evolution
MAK ETANCHEITE

Sector positioning

Debt ratio
293.38 2022
2020
2021
2022
Q1: 0.28
Med: 14.95
Q3: 54.22
Watch

In 2022, the debt ratio of MAK ETANCHEITE (293.38) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
13.27% 2022
2020
2021
2022
Q1: 6.16%
Med: 25.41%
Q3: 45.59%
Average

In 2022, the financial autonomy of MAK ETANCHEITE (13.3%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-2.29 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.05 years
Q3: 0.98 years
Excellent -51 pts over 3 years

In 2022, the repayment capacity of MAK ETANCHEITE (-2.29) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 194.61. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2022) ?
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

194.611

Interest coverage (2022) ?
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

-10.948

Liquidity indicators evolution
MAK ETANCHEITE

Sector positioning

Liquidity ratio
194.61 2022
2020
2021
2022
Q1: 137.82
Med: 186.81
Q3: 265.77
Good -12 pts over 3 years

In 2022, the liquidity ratio of MAK ETANCHEITE (194.61) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
-10.95x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.13x
Q3: 1.66x
Watch

In 2022, the interest coverage of MAK ETANCHEITE (-10.9x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 58 days. The company must finance 16 days of gap between collections and payments. Overall, WCR represents 62 days of revenue, i.e. 21 k€ to permanently finance. Over 2020-2022, WCR increased by +311%, requiring additional financing.

Operating WCR (2022) ?
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

20 868 €

Customer credit (2022) ?
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

74 j

Supplier credit (2022) ?
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

58 j

Inventory turnover (2022) ?
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

0 j

WCR in days of revenue (2022) ?
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

62 j

WCR and payment terms evolution
MAK ETANCHEITE

Positioning of MAK ETANCHEITE in its sector

Comparison with sector Travaux d'étanchéification

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (47 transactions). This range of 19 653€ to 34 105€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2022
Indicative
19k€ 25k€ 34k€
25 034 € Range: 19 653€ - 34 105€
NAF 5 année 2022

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 47 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 d'étanchéification)

Compare MAK ETANCHEITE with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'étanchéification

Frequently asked questions about MAK ETANCHEITE

What is the revenue of MAK ETANCHEITE ?

The revenue of MAK ETANCHEITE in 2022 is 120 k€.

Is MAK ETANCHEITE profitable?

MAK ETANCHEITE recorded a net loss in 2022.

Where is the headquarters of MAK ETANCHEITE ?

The headquarters of MAK ETANCHEITE is located in TOULOUSE (31100), in the department Haute-Garonne.

Where to find the tax return of MAK ETANCHEITE ?

The tax return of MAK ETANCHEITE 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 MAK ETANCHEITE operate?

MAK ETANCHEITE operates in the sector Travaux d'étanchéification (NAF code 43.99A). See the 'Sector positioning' section above to compare the company with its competitors.