MESSAGERIES COURSES EXPRESS : revenue, balance sheet and financial ratios

MESSAGERIES COURSES EXPRESS is a French company founded 27 years ago, specialized in the sector Transports routiers de fret de proximité. Based in GOUSSAINVILLE (95190), this company of category PME shows in 2022 a revenue of 12.3 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 - MESSAGERIES COURSES EXPRESS (SIREN 420992430)
Indicator 2022 2021 2020 2019 2018 2017 2016
Revenue 12 272 671 € 9 090 246 € 7 160 946 € 6 613 101 € 5 244 690 € 3 891 469 € 3 689 137 €
Net income 771 099 € 747 094 € 556 412 € 815 448 € 584 649 € 571 742 € 517 160 €
EBITDA 965 407 € 1 274 488 € 737 735 € 1 007 207 € 846 152 € 864 043 € -644 595 €
Net margin 6.3% 8.2% 7.8% 12.3% 11.1% 14.7% 14.0%

Revenue and income statement

In 2022, MESSAGERIES COURSES EXPRESS achieves revenue of 12.3 M€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +22.2%. Vs 2021, growth of +35% (9.1 M€ -> 12.3 M€). After deducting consumption (558 k€), gross margin stands at 11.7 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 965 k€, representing 7.9% of revenue. Warning negative scissor effect: despite revenue change (+35%), EBITDA varies by -24%, reducing margin by 6.2 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 771 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

12 272 671 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

11 714 804 €

EBITDA (2022) ?
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

965 407 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

1 104 799 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

771 099 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

7.9%

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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 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

33.612%

Financial autonomy (2022) ?
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

27.83%

Cash flow / Revenue (2022) ?
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

5.606%

Repayment capacity (2022) ?
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

1.011

Asset age ratio (2022) ?
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

49.7%

Solvency indicators evolution
MESSAGERIES COURSES EXPRESS

Sector positioning

Debt ratio
33.61 2022
2020
2021
2022
Q1: 1.23
Med: 30.62
Q3: 102.17
Average +23 pts over 3 years

In 2022, the debt ratio of MESSAGERIES COURSES EXPRESS (33.61) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
27.83% 2022
2020
2021
2022
Q1: 11.72%
Med: 30.44%
Q3: 49.8%
Average -10 pts over 3 years

In 2022, the financial autonomy of MESSAGERIES COURSES EXPRESS (27.8%) 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
1.01 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.02 years
Q3: 1.77 years
Average +11 pts over 3 years

In 2022, the repayment capacity of MESSAGERIES COURSES EXPRESS (1.01) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 137.06. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2022) ?
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

137.061

Interest coverage (2022) ?
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

0.477

Liquidity indicators evolution
MESSAGERIES COURSES EXPRESS

Sector positioning

Liquidity ratio
137.06 2022
2020
2021
2022
Q1: 121.22
Med: 169.77
Q3: 252.54
Average +9 pts over 3 years

In 2022, the liquidity ratio of MESSAGERIES COURSES EXPRESS (137.06) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
0.48x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.0x
Q3: 1.7x
Good +6 pts over 3 years

In 2022, the interest coverage of MESSAGERIES COURSES EXPRESS (0.5x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 115 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 96 days. The company must finance 19 days of gap between collections and payments. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 121 days of revenue, i.e. 4.1 M€ to permanently finance. Over 2016-2022, WCR increased by +254%, requiring additional financing.

Operating WCR (2022) ?
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

4 122 145 €

Customer credit (2022) ?
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

115 j

Supplier credit (2022) ?
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

96 j

Inventory turnover (2022) ?
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

2 j

WCR in days of revenue (2022) ?
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

121 j

WCR and payment terms evolution
MESSAGERIES COURSES EXPRESS

Positioning of MESSAGERIES COURSES EXPRESS in its sector

Comparison with sector Transports routiers de fret de proximité

Valuation estimate

Based on 56 transactions of similar company sales in 2022, the value of MESSAGERIES COURSES EXPRESS is estimated at 1 866 842 € (range 981 771€ - 3 773 818€). With an EBITDA of 965 407€, the sector multiple of 1.4x 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.

Estimated enterprise value 2022
56 tx
981k€ 1866k€ 3773k€
1 866 842 € Range: 981 771€ - 3 773 818€
NAF 5 année 2022

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
965 407 € × 1.4x
Estimation 1 325 828 €
613 213€ - 3 432 197€
Revenue Multiple 30%
12 272 671 € × 0.20x
Estimation 2 455 885 €
1 554 585€ - 3 962 562€
Net Income Multiple 20%
771 099 € × 3.0x
Estimation 2 335 814 €
1 043 947€ - 4 344 756€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 56 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 (Transports routiers de fret de proximité)

Compare MESSAGERIES COURSES EXPRESS with other companies in the same sector:

Voir toutes les statistiques du secteur Transports routiers de fret de proximité

Frequently asked questions about MESSAGERIES COURSES EXPRESS

What is the revenue of MESSAGERIES COURSES EXPRESS ?

The revenue of MESSAGERIES COURSES EXPRESS in 2022 is 12.3 M€.

Is MESSAGERIES COURSES EXPRESS profitable?

Yes, MESSAGERIES COURSES EXPRESS generated a net profit of 771 k€ in 2022.

Where is the headquarters of MESSAGERIES COURSES EXPRESS ?

The headquarters of MESSAGERIES COURSES EXPRESS is located in GOUSSAINVILLE (95190), in the department Val-d'Oise.

Where to find the tax return of MESSAGERIES COURSES EXPRESS ?

The tax return of MESSAGERIES COURSES EXPRESS 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 MESSAGERIES COURSES EXPRESS operate?

MESSAGERIES COURSES EXPRESS operates in the sector Transports routiers de fret de proximité (NAF code 49.41B). See the 'Sector positioning' section above to compare the company with its competitors.