MASSILIA SAVONNERIE : revenue, balance sheet and financial ratios

In 2022, MASSILIA SAVONNERIE achieves revenue of 209 k€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +8.2%. Vs 2021: +1%. After deducting consumption (85 k€), gross margin stands at 123 k€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 17 k€, representing 8.3% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -64%, reducing margin by 15.1 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 7 k€, i.e. 3.4% of revenue. This profit can be retained or distributed to shareholders.

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 69%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 295.79. 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 2.8x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 64 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 94 days of revenue, i.e. 54 k€ to permanently finance. Over 2016-2022, WCR increased by +105%, requiring additional financing.

Based on 132 transactions of similar company sales (all years), the value of MASSILIA SAVONNERIE is estimated at 55 702 € (range 29 412€ - 108 149€). With an EBITDA of 17 349€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.35x (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.