MENUISERIES DE L'ATLANTIQUE : revenue, balance sheet and financial ratios

In 2024, MENUISERIES DE L'ATLANTIQUE achieves revenue of 8.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.4%. Significant drop of -16% vs 2023. After deducting consumption (4.4 M€), gross margin stands at 3.6 M€, i.e. a rate of 45%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 475 k€, representing 6.0% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -43%, reducing margin by 2.8 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 71 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 80%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 47%. 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 5.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.7% 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 323.99. 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 10.2x. 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: 68 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 41 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 51 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 82 days of revenue, i.e. 1.8 M€ to permanently finance.

Based on 76 transactions of similar company sales (all years), the value of MENUISERIES DE L'ATLANTIQUE is estimated at 811 267 € (range 359 948€ - 1 417 566€). With an EBITDA of 474 832€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.