MER ESTEREL DEVELOPPEMENT : revenue, balance sheet and financial ratios

In 2024, MER ESTEREL DEVELOPPEMENT achieves revenue of 304 k€. Revenue is declining over the period 2016-2024 (CAGR: -8.6%). Vs 2023, growth of +53% (198 k€ -> 304 k€). After deducting consumption (0 €), gross margin stands at 304 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 121 k€, representing 39.8% of revenue. Positive scissor effect: EBITDA margin improves by +25.6 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 934 k€, i.e. 307.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 92%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 307.0% 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 1098.60. 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 7.7x. 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: 115 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. The gap of 82 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 79 days of revenue, i.e. 67 k€ to permanently finance. Over 2016-2024, WCR increased by +185%, requiring additional financing.

Based on 54 transactions of similar company sales in 2024, the value of MER ESTEREL DEVELOPPEMENT is estimated at 619 680 € (range 257 055€ - 1 964 603€). With an EBITDA of 121 224€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.59x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.