M.C. IMMOPARTS : revenue, balance sheet and financial ratios

In 2023, M.C. IMMOPARTS achieves revenue of 371 k€. Revenue is growing positively over 9 years (CAGR: +2.3%). Vs 2022, growth of +22% (303 k€ -> 371 k€). After deducting consumption (54 k€), gross margin stands at 317 k€, i.e. a rate of 85%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 54 k€, representing 14.6% of revenue. Warning negative scissor effect: despite revenue change (+22%), EBITDA varies by -34%, reducing margin by 12.6 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 15 k€, i.e. 3.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 87%. 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 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 59.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 5799.91. 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 11.0x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 51 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 30 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 2513 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 2272 days of revenue, i.e. 2.3 M€ to permanently finance.

Based on 63 transactions of similar company sales in 2023, the value of M.C. IMMOPARTS is estimated at 177 554 € (range 69 802€ - 330 119€). With an EBITDA of 54 091€, the sector multiple of 4.6x is applied. The price/revenue ratio is 0.24x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.