MICHEL SERVICES GAZ : revenue, balance sheet and financial ratios

In 2025, MICHEL SERVICES GAZ achieves revenue of 830 k€. Revenue is growing positively over 7 years (CAGR: +2.7%). Vs 2024: +7%. After deducting consumption (104 k€), gross margin stands at 726 k€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 151 k€, representing 18.2% of revenue. Warning negative scissor effect: despite revenue change (+7%), EBITDA varies by -5%, reducing margin by 2.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 117 k€, i.e. 14.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 220%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 14.7% 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 257.92. 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 3.5x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 89 days. Excellent situation: suppliers finance 65 days of the operating cycle (retail model). Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-50 days): operations structurally generate cash. Notable WCR improvement over the period (-303%), freeing up cash.

Based on 104 transactions of similar company sales (all years), the value of MICHEL SERVICES GAZ is estimated at 174 858 € (range 109 236€ - 532 434€). With an EBITDA of 150 850€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.27x (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.