MERCIALYS EXPLOITATION : revenue, balance sheet and financial ratios

In 2024, MERCIALYS EXPLOITATION achieves revenue of 7.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +14.7%. Slight decline of -10% vs 2023. After deducting consumption (216 k€), gross margin stands at 6.8 M€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 22 k€, representing 0.3% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -98%, reducing margin by 12.2 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 820 k€, i.e. 11.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -2%. 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 -20%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 1.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 94.74. 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 17.2x. 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: 90 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. The company must finance 15 days of gap between collections and payments. Overall, WCR represents 11 days of revenue, i.e. 218 k€ to permanently finance. Over 2016-2024, WCR increased by +762%, requiring additional financing.

Based on 277 transactions of similar company sales (all years), the value of MERCIALYS EXPLOITATION is estimated at 984 342 € (range 378 395€ - 2 487 759€). With an EBITDA of 21 610€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.