MARBRERIE PICCIONI : revenue, balance sheet and financial ratios

In 2021, MARBRERIE PICCIONI achieves revenue of 764 k€. Activity remains stable over the period (CAGR: -2.1%). Vs 2020: +8%. After deducting consumption (218 k€), gross margin stands at 546 k€, i.e. a rate of 71%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 67 k€, representing 8.8% of revenue. Warning negative scissor effect: despite revenue change (+8%), EBITDA varies by -37%, reducing margin by 6.4 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 48 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 71%. 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 1.0 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 159.23. 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 1.9x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 17 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 37 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 29 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 13 days of revenue, i.e. 27 k€ to permanently finance. Notable WCR improvement over the period (-42%), freeing up cash.

Based on 105 transactions of similar company sales in 2021, the value of MARBRERIE PICCIONI is estimated at 256 202 € (range 153 729€ - 553 011€). With an EBITDA of 67 379€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.50x (in line with sector norms). 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.