MICHEL MARKEY : revenue, balance sheet and financial ratios

In 2025, MICHEL MARKEY achieves revenue of 164 k€. Revenue is declining over the period 2016-2025 (CAGR: -17.4%). Vs 2024: +9%. After deducting consumption (11 k€), gross margin stands at 153 k€, i.e. a rate of 93%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3 k€, representing 1.6% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -88%, reducing margin by 12.7 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 11 k€, i.e. 6.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 20%. 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 67%. 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 9.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 256.82. 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 22.8x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 64 days. Excellent situation: suppliers finance 64 days of the operating cycle (retail model). Overall, WCR represents 214 days of revenue, i.e. 98 k€ to permanently finance. Over 2016-2025, WCR increased by +585%, requiring additional financing.

Based on 261 transactions of similar company sales (all years), the value of MICHEL MARKEY is estimated at 56 608 € (range 33 614€ - 106 573€). With an EBITDA of 2 611€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (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.