MASSIF MARINE : revenue, balance sheet and financial ratios

MASSIF MARINE is a French company founded 48 years ago, specialized in the sector Commerce de détail d'articles de sport en magasin spécialisé. Based in GIVRAND (85800), this company of category PME shows in 2018 a revenue of 15.1 M€. 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 - MASSIF MARINE (SIREN 314046871)
Indicator 2018 2017 2016
Revenue 15 099 256 € 15 484 989 € 11 821 571 €
Net income -1 205 861 € 133 078 € 172 618 €
EBITDA -502 289 € 547 205 € 256 442 €
Net margin -8.0% 0.9% 1.5%

Revenue and income statement

In 2018, MASSIF MARINE achieves revenue of 15.1 M€. Over the period 2016-2018, the company shows strong growth with a CAGR (compound annual growth rate) of +13.0%. Slight decline of -2% vs 2017. After deducting consumption (12.0 M€), gross margin stands at 3.1 M€, i.e. a rate of 20%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -502 k€, representing -3.3% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -192%, reducing margin by 6.9 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -1.2 M€ (-8.0% of revenue), which will impact equity.

Revenue (2018) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

15 099 256 €

Gross margin (2018) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

3 084 919 €

EBITDA (2018) ?
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

-502 289 €

EBIT (2018) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-406 249 €

Net income (2018) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-1 205 861 €

EBITDA margin (2018) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-3.3%

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Chart evolution

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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 -488%. 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 -14%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2018) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-488.076%

Financial autonomy (2018) ?
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

-13.993%

Cash flow / Revenue (2018) ?
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

-4.338%

Repayment capacity (2018) ?
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

-1.694

Asset age ratio (2018) ?
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

9.3%

Solvency indicators evolution
MASSIF MARINE

Sector positioning

Debt ratio
-488.08 2018
2016
2017
2018
Q1: 4.64
Med: 35.35
Q3: 129.83
Excellent -11 pts over 3 years

In 2018, the debt ratio of MASSIF MARINE (-488.08) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-13.99% 2018
2016
2017
2018
Q1: 11.46%
Med: 33.76%
Q3: 57.04%
Average -39 pts over 3 years

In 2018, the financial autonomy of MASSIF MARINE (-14.0%) 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
-1.69 years 2018
2016
2017
2018
Q1: 0.0 years
Med: 0.63 years
Q3: 3.12 years
Excellent -28 pts over 3 years

In 2018, the repayment capacity of MASSIF MARINE (-1.69) 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 112.22. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2018) ?
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

112.224

Interest coverage (2018) ?
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

-319.918

Liquidity indicators evolution
MASSIF MARINE

Sector positioning

Liquidity ratio
112.22 2018
2016
2017
2018
Q1: 124.88
Med: 183.45
Q3: 312.13
Watch -25 pts over 3 years

In 2018, the liquidity ratio of MASSIF MARINE (112.22) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-319.92x 2018
2016
2017
2018
Q1: 0.0x
Med: 1.07x
Q3: 6.33x
Watch -36 pts over 3 years

In 2018, the interest coverage of MASSIF MARINE (-319.9x) 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. Favorable situation: supplier credit is longer than customer credit by 7 days. Inventory turnover is 66 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 53 days of revenue, i.e. 2.2 M€ to permanently finance.

Operating WCR (2018) ?
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

2 239 824 €

Customer credit (2018) ?
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

5 j

Supplier credit (2018) ?
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

12 j

Inventory turnover (2018) ?
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

66 j

WCR in days of revenue (2018) ?
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

53 j

WCR and payment terms evolution
MASSIF MARINE

Positioning of MASSIF MARINE in its sector

Comparison with sector Commerce de détail d'articles de sport en magasin spécialisé

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 3 678 779€ to 14 640 914€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2018
Indicative
3678k€ 5664k€ 14640k€
5 664 132 € Range: 3 678 779€ - 14 640 914€
NAF 5 année 2018

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 25 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 (Commerce de détail d'articles de sport en magasin spécialisé)

Compare MASSIF MARINE with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de détail d'articles de sport en magasin spécialisé

Frequently asked questions about MASSIF MARINE

What is the revenue of MASSIF MARINE ?

The revenue of MASSIF MARINE in 2018 is 15.1 M€.

Is MASSIF MARINE profitable?

MASSIF MARINE recorded a net loss in 2018.

Where is the headquarters of MASSIF MARINE ?

The headquarters of MASSIF MARINE is located in GIVRAND (85800), in the department Vendee.

Where to find the tax return of MASSIF MARINE ?

The tax return of MASSIF MARINE 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 MASSIF MARINE operate?

MASSIF MARINE operates in the sector Commerce de détail d'articles de sport en magasin spécialisé (NAF code 47.64Z). See the 'Sector positioning' section above to compare the company with its competitors.