MENISSEZ FRAIS : revenue, balance sheet and financial ratios

In 2024, MENISSEZ FRAIS achieves revenue of 36.1 M€. Activity remains stable over the period (CAGR: -1.0%). Slight decline of -5% vs 2023. After deducting consumption (16.3 M€), gross margin stands at 19.7 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.8 M€, representing 13.2% of revenue. Positive scissor effect: EBITDA margin improves by +3.6 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 3.1 M€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 50%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.5% 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 159.49. 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.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 90 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 96 days. Favorable situation: supplier credit is longer than customer credit by 6 days. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 129 days of revenue, i.e. 12.9 M€ to permanently finance.

Based on 203 transactions of similar company sales in 2024, the value of MENISSEZ FRAIS is estimated at 27 481 449 € (range 15 107 701€ - 43 849 377€). With an EBITDA of 4 764 402€, the sector multiple of 6.7x is applied. The price/revenue ratio is 0.55x (in line with sector norms). 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.