MAX BERTRAND LOGISTIQUE : revenue, balance sheet and financial ratios

MAX BERTRAND LOGISTIQUE is a French company founded 13 years ago, specialized in the sector Affrètement et organisation des transports . Based in BEAUCAIRE (30300), this company of category PME shows in 2020 a revenue of 435 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - MAX BERTRAND LOGISTIQUE (SIREN 791585052)
Indicator 2020 2019 2018 2017 2016
Revenue 434 964 € 397 257 € 115 463 € 101 436 € 100 104 €
Net income 130 868 € 173 450 € -9 693 € -83 500 € -11 343 €
EBITDA 187 092 € 215 436 € -6 145 € -77 020 € -4 696 €
Net margin 30.1% 43.7% -8.4% -82.3% -11.3%

Revenue and income statement

In 2020, MAX BERTRAND LOGISTIQUE achieves revenue of 435 k€. Over the period 2016-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +44.4%. Vs 2019: +9%. After deducting consumption (27 k€), gross margin stands at 408 k€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 187 k€, representing 43.0% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -13%, reducing margin by 11.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 131 k€, i.e. 30.1% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

434 964 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

408 262 €

EBITDA (2020) ?
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

187 092 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

177 737 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

130 868 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

43.0%

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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 23%. 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 13%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 32.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

23.412%

Financial autonomy (2020) ?
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

13.441%

Cash flow / Revenue (2020) ?
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

32.225%

Repayment capacity (2020) ?
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

0.0

Asset age ratio (2020) ?
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

80.8%

Solvency indicators evolution
MAX BERTRAND LOGISTIQUE

Sector positioning

Debt ratio
23.41 2020
2018
2019
2020
Q1: 0.0
Med: 6.95
Q3: 68.93
Average +32 pts over 3 years

In 2020, the debt ratio of MAX BERTRAND LOGISTIQUE (23.41) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
13.44% 2020
2018
2019
2020
Q1: 12.22%
Med: 26.48%
Q3: 44.97%
Average

In 2020, the financial autonomy of MAX BERTRAND LOGISTIQUE (13.4%) 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
0.0 years 2020
2018
2019
2020
Q1: 0.0 years
Med: 0.01 years
Q3: 1.72 years
Excellent

In 2020, the repayment capacity of MAX BERTRAND LOGISTIQUE (0.00) 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 214.90. 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 0.6x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2020) ?
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

214.896

Interest coverage (2020) ?
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

0.599

Liquidity indicators evolution
MAX BERTRAND LOGISTIQUE

Sector positioning

Liquidity ratio
214.9 2020
2018
2019
2020
Q1: 119.14
Med: 152.95
Q3: 216.63
Good +45 pts over 3 years

In 2020, the liquidity ratio of MAX BERTRAND LOGISTIQUE (214.90) 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
0.6x 2020
2018
2019
2020
Q1: 0.0x
Med: 0.03x
Q3: 2.5x
Good +31 pts over 3 years

In 2020, the interest coverage of MAX BERTRAND LOGISTIQUE (0.6x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 123 days. Excellent situation: suppliers finance 62 days of the operating cycle (retail model). Inventory turnover is 83 days (= Average inventory / Cost of goods x 360). WCR is negative (-50 days): operations structurally generate cash. Notable WCR improvement over the period (-2976%), freeing up cash.

Operating WCR (2020) ?
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

-60 164 €

Customer credit (2020) ?
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

61 j

Supplier credit (2020) ?
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

123 j

Inventory turnover (2020) ?
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

83 j

WCR in days of revenue (2020) ?
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

-50 j

WCR and payment terms evolution
MAX BERTRAND LOGISTIQUE

Positioning of MAX BERTRAND LOGISTIQUE in its sector

Comparison with sector Affrètement et organisation des transports

Valuation estimate

Based on 167 transactions of similar company sales (all years), the value of MAX BERTRAND LOGISTIQUE is estimated at 114 223 € (range 49 866€ - 200 024€). With an EBITDA of 187 092€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.11x (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.

Estimated enterprise value 2020
167 transactions
49k€ 114k€ 200k€
114 223 € Range: 49 866€ - 200 024€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
187 092 € × 0.9x
Estimation 167 562 €
61 219€ - 232 970€
Revenue Multiple 30%
434 964 € × 0.11x
Estimation 46 133 €
40 895€ - 80 965€
Net Income Multiple 20%
130 868 € × 0.6x
Estimation 83 014 €
34 944€ - 296 252€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 167 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 (Affrètement et organisation des transports )

Compare MAX BERTRAND LOGISTIQUE with other companies in the same sector:

Voir toutes les statistiques du secteur Affrètement et organisation des transports

Frequently asked questions about MAX BERTRAND LOGISTIQUE

What is the revenue of MAX BERTRAND LOGISTIQUE ?

The revenue of MAX BERTRAND LOGISTIQUE in 2020 is 435 k€.

Is MAX BERTRAND LOGISTIQUE profitable?

Yes, MAX BERTRAND LOGISTIQUE generated a net profit of 131 k€ in 2020.

Where is the headquarters of MAX BERTRAND LOGISTIQUE ?

The headquarters of MAX BERTRAND LOGISTIQUE is located in BEAUCAIRE (30300), in the department Gard.

Where to find the tax return of MAX BERTRAND LOGISTIQUE ?

The tax return of MAX BERTRAND LOGISTIQUE 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 MAX BERTRAND LOGISTIQUE operate?

MAX BERTRAND LOGISTIQUE operates in the sector Affrètement et organisation des transports (NAF code 52.29B). See the 'Sector positioning' section above to compare the company with its competitors.