MERRAIN INTERNATIONAL : revenue, balance sheet and financial ratios

MERRAIN INTERNATIONAL is a French company founded 35 years ago, specialized in the sector Fabrication d'emballages en bois. Based in MONTHUREUX-SUR-SAONE (88410), this company of category ETI shows in 2023 a revenue of 20.3 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - MERRAIN INTERNATIONAL (SIREN 381510254)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 20 296 052 € 15 754 216 € 14 575 617 € 17 981 562 € 19 257 878 € 18 167 234 € 17 693 854 € 17 393 646 €
Net income -62 713 € 271 245 € 555 248 € 539 863 € 493 465 € 392 327 € 587 734 € 1 127 780 €
EBITDA -283 539 € 267 767 € 683 792 € 745 882 € 619 319 € 370 977 € 736 105 € 1 470 430 €
Net margin -0.3% 1.7% 3.8% 3.0% 2.6% 2.2% 3.3% 6.5%

Revenue and income statement

In 2023, MERRAIN INTERNATIONAL achieves revenue of 20.3 M€. Revenue is growing positively over 8 years (CAGR: +2.2%). Vs 2022, growth of +29% (15.8 M€ -> 20.3 M€). After deducting consumption (15.2 M€), gross margin stands at 5.1 M€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -284 k€, representing -1.4% of revenue. Warning negative scissor effect: despite revenue change (+29%), EBITDA varies by -206%, reducing margin by 3.1 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -63 k€ (-0.3% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

20 296 052 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

5 092 752 €

EBITDA (2023) ?
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

-283 539 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-258 099 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-62 713 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-1.4%

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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 0%. 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 76%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.01%

Financial autonomy (2023) ?
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

76.203%

Cash flow / Revenue (2023) ?
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

-0.434%

Repayment capacity (2023) ?
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

-0.017

Solvency indicators evolution
MERRAIN INTERNATIONAL

Sector positioning

Debt ratio
0.01 2023
2021
2022
2023
Q1: 9.23
Med: 27.45
Q3: 68.33
Excellent

In 2023, the debt ratio of MERRAIN INTERNATIONAL (0.01) 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
76.2% 2023
2021
2022
2023
Q1: 33.05%
Med: 52.76%
Q3: 67.32%
Excellent

In 2023, the financial autonomy of MERRAIN INTERNATIONAL (76.2%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
-0.02 years 2023
2021
2022
2023
Q1: 0.11 years
Med: 0.95 years
Q3: 2.9 years
Excellent

In 2023, the repayment capacity of MERRAIN INTERNATIONAL (-0.02) 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 420.25. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2023) ?
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

420.253

Interest coverage (2023) ?
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

0.0

Liquidity indicators evolution
MERRAIN INTERNATIONAL

Sector positioning

Liquidity ratio
420.25 2023
2021
2022
2023
Q1: 179.13
Med: 278.72
Q3: 409.46
Excellent

In 2023, the liquidity ratio of MERRAIN INTERNATIONAL (420.25) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
0.0x 2023
2021
2022
2023
Q1: 0.22x
Med: 1.69x
Q3: 6.74x
Average

In 2023, the interest coverage of MERRAIN INTERNATIONAL (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 124 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 68 days. The gap of 56 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 179 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 332 days of revenue, i.e. 18.7 M€ to permanently finance. Over 2016-2023, WCR increased by +104%, requiring additional financing.

Operating WCR (2023) ?
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

18 714 787 €

Customer credit (2023) ?
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

124 j

Supplier credit (2023) ?
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

68 j

Inventory turnover (2023) ?
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

179 j

WCR in days of revenue (2023) ?
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

332 j

WCR and payment terms evolution
MERRAIN INTERNATIONAL

Positioning of MERRAIN INTERNATIONAL in its sector

Comparison with sector Fabrication d'emballages en bois

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (44 transactions). This range of 1 674 130€ to 3 574 337€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2023
Indicative
1674k€ 2826k€ 3574k€
2 826 403 € Range: 1 674 130€ - 3 574 337€
NAF 4 all-time Aggregated at NAF sub-class level
How is this estimate calculated?

This estimate is based on the analysis of 44 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 (Fabrication d'emballages en bois)

Compare MERRAIN INTERNATIONAL with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication d'emballages en bois

Frequently asked questions about MERRAIN INTERNATIONAL

What is the revenue of MERRAIN INTERNATIONAL ?

The revenue of MERRAIN INTERNATIONAL in 2023 is 20.3 M€.

Is MERRAIN INTERNATIONAL profitable?

MERRAIN INTERNATIONAL recorded a net loss in 2023.

Where is the headquarters of MERRAIN INTERNATIONAL ?

The headquarters of MERRAIN INTERNATIONAL is located in MONTHUREUX-SUR-SAONE (88410), in the department Vosges.

Where to find the tax return of MERRAIN INTERNATIONAL ?

The tax return of MERRAIN INTERNATIONAL 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 MERRAIN INTERNATIONAL operate?

MERRAIN INTERNATIONAL operates in the sector Fabrication d'emballages en bois (NAF code 16.24Z). See the 'Sector positioning' section above to compare the company with its competitors.