MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) : revenue, balance sheet and financial ratios

MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) is a French company founded 8 years ago, specialized in the sector Travaux de menuiserie bois et PVC. Based in TONNEINS (47400), this company of category PME shows in 2021 a revenue of 87 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) (SIREN 834634966)
Indicator 2021 2020 2019 2018
Revenue 86 722 € 92 390 € 243 541 € 190 968 €
Net income 3 061 € -63 182 € -16 020 € 17 587 €
EBITDA -6 183 € -56 459 € -9 886 € 21 216 €
Net margin 3.5% -68.4% -6.6% 9.2%

Revenue and income statement

In 2021, MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) achieves revenue of 87 k€. Revenue is declining over the period 2018-2021 (CAGR: -23.1%). Slight decline of -6% vs 2020. After deducting consumption (23 k€), gross margin stands at 64 k€, i.e. a rate of 74%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -6 k€, representing -7.1% of revenue. Positive scissor effect: EBITDA margin improves by +54.0 pts, sign of improved operational efficiency. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3 k€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2021) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

86 722 €

Gross margin (2021) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

63 874 €

EBITDA (2021) ?
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

-6 183 €

EBIT (2021) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

2 512 €

Net income (2021) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

3 061 €

EBITDA margin (2021) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-7.1%

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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 -159%. 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 -113%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2021) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-159.099%

Financial autonomy (2021) ?
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

-112.802%

Cash flow / Revenue (2021) ?
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

-5.968%

Repayment capacity (2021) ?
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

-11.819

Asset age ratio (2021) ?
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

28.1%

Solvency indicators evolution
MENUISERIE SERRURERIE DU SUD-OUEST (SM2S)

Sector positioning

Debt ratio
-159.1 2021
2019
2020
2021
Q1: 6.04
Med: 33.73
Q3: 92.88
Excellent -50 pts over 3 years

In 2021, the debt ratio of MENUISERIE SERRURERIE DU ... (-159.10) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-112.8% 2021
2019
2020
2021
Q1: 15.56%
Med: 33.59%
Q3: 51.43%
Average -8 pts over 3 years

In 2021, the financial autonomy of MENUISERIE SERRURERIE DU ... (-112.8%) 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
-11.82 years 2021
2019
2020
2021
Q1: 0.0 years
Med: 0.46 years
Q3: 2.36 years
Excellent

In 2021, the repayment capacity of MENUISERIE SERRURERIE DU ... (-11.82) 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 219.06. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2021) ?
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

219.057

Interest coverage (2021) ?
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

-15.332

Liquidity indicators evolution
MENUISERIE SERRURERIE DU SUD-OUEST (SM2S)

Sector positioning

Liquidity ratio
219.06 2021
2019
2020
2021
Q1: 144.83
Med: 201.57
Q3: 288.03
Good +27 pts over 3 years

In 2021, the liquidity ratio of MENUISERIE SERRURERIE DU ... (219.06) 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
-15.33x 2021
2019
2020
2021
Q1: 0.0x
Med: 0.34x
Q3: 2.18x
Watch

In 2021, the interest coverage of MENUISERIE SERRURERIE DU ... (-15.3x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 52 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 25 days. The company must finance 27 days of gap between collections and payments. Inventory turnover is 31 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 92 days of revenue, i.e. 22 k€ to permanently finance. Notable WCR improvement over the period (-80%), freeing up cash.

Operating WCR (2021) ?
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

22 099 €

Customer credit (2021) ?
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

52 j

Supplier credit (2021) ?
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

25 j

Inventory turnover (2021) ?
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

31 j

WCR in days of revenue (2021) ?
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

92 j

WCR and payment terms evolution
MENUISERIE SERRURERIE DU SUD-OUEST (SM2S)

Positioning of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) in its sector

Comparison with sector Travaux de menuiserie bois et PVC

Valuation estimate

Based on 264 transactions of similar company sales (all years), the value of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) is estimated at 12 907 € (range 6 586€ - 22 950€). The price/revenue ratio is 0.18x (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 2021
264 transactions
6k€ 12k€ 22k€
12 907 € Range: 6 586€ - 22 950€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

Revenue Multiple 30%
86 722 € × 0.18x
Estimation 15 257 €
8 973€ - 24 794€
Net Income Multiple 20%
3 061 € × 3.1x
Estimation 9 385 €
3 005€ - 20 185€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 264 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 (Travaux de menuiserie bois et PVC)

Compare MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux de menuiserie bois et PVC

Frequently asked questions about MENUISERIE SERRURERIE DU SUD-OUEST (SM2S)

What is the revenue of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) ?

The revenue of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) in 2021 is 87 k€.

Is MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) profitable?

Yes, MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) generated a net profit of 3 k€ in 2021.

Where is the headquarters of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) ?

The headquarters of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) is located in TONNEINS (47400), in the department Lot-et-Garonne.

Where to find the tax return of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) ?

The tax return of MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) 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 MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) operate?

MENUISERIE SERRURERIE DU SUD-OUEST (SM2S) operates in the sector Travaux de menuiserie bois et PVC (NAF code 43.32A). See the 'Sector positioning' section above to compare the company with its competitors.