MAYER AUTOMOBILES : revenue, balance sheet and financial ratios

In 2024, MAYER AUTOMOBILES achieves revenue of 347 k€. Activity remains stable over the period (CAGR: -3.7%). Slight decline of -3% vs 2023. After deducting consumption (138 k€), gross margin stands at 209 k€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 40 k€, representing 11.5% of revenue. Positive scissor effect: EBITDA margin improves by +10.2 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 9 k€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 344%. 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 8.2% 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 169.28. 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 2.5x. 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: 4 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. Excellent situation: suppliers finance 40 days of the operating cycle (retail model). Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 39 days of revenue, i.e. 37 k€ to permanently finance. Over 2021-2024, WCR increased by +35%, requiring additional financing.

Based on 147 transactions of similar company sales in 2024, the value of MAYER AUTOMOBILES is estimated at 154 637 € (range 68 921€ - 265 468€). With an EBITDA of 39 948€, the sector multiple of 5.5x 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.