MICHENAUD AND CO S.A : revenue, balance sheet and financial ratios

MICHENAUD AND CO S.A is a French company founded 36 years ago, specialized in the sector Commerce de détail d'autres équipements du foyer. Based in NANTES (44000), this company of category PME shows in 2020 a revenue of 5.7 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

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

Financial history - MICHENAUD AND CO S.A (SIREN 350715140)
Indicator 2020 2019 2018
Revenue 5 655 556 € 5 602 721 € 5 932 127 €
Net income 104 569 € 73 732 € 142 369 €
EBITDA 156 646 € 43 173 € 231 267 €
Net margin 1.8% 1.3% 2.4%

Revenue and income statement

In 2020, MICHENAUD AND CO S.A achieves revenue of 5.7 M€. Activity remains stable over the period (CAGR: -2.4%). Vs 2019: +1%. After deducting consumption (4.2 M€), gross margin stands at 1.5 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 157 k€, representing 2.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 105 k€, i.e. 1.8% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

5 655 556 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

1 486 590 €

EBITDA (2020) ?
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

156 646 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

142 230 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

104 569 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

2.8%

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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 11%. 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 55%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

11.196%

Financial autonomy (2020) ?
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

54.897%

Cash flow / Revenue (2020) ?
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

2.094%

Repayment capacity (2020) ?
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

1.208

Asset age ratio (2020) ?
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

10.6%

Solvency indicators evolution
MICHENAUD AND CO S.A

Sector positioning

Debt ratio
11.2 2020
2018
2019
2020
Q1: 1.0
Med: 40.71
Q3: 142.48
Good -9 pts over 3 years

In 2020, the debt ratio of MICHENAUD AND CO S.A (11.20) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
54.9% 2020
2018
2019
2020
Q1: 9.23%
Med: 30.3%
Q3: 54.47%
Excellent +8 pts over 3 years

In 2020, the financial autonomy of MICHENAUD AND CO S.A (54.9%) 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
1.21 years 2020
2018
2019
2020
Q1: 0.0 years
Med: 0.46 years
Q3: 4.2 years
Average

In 2020, the repayment capacity of MICHENAUD AND CO S.A (1.21) 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 224.66. 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 1.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2020) ?
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

224.658

Interest coverage (2020) ?
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

0.963

Liquidity indicators evolution
MICHENAUD AND CO S.A

Sector positioning

Liquidity ratio
224.66 2020
2018
2019
2020
Q1: 133.88
Med: 218.27
Q3: 335.29
Good

In 2020, the liquidity ratio of MICHENAUD AND CO S.A (224.66) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
0.96x 2020
2018
2019
2020
Q1: 0.0x
Med: 0.0x
Q3: 2.5x
Good +5 pts over 3 years

In 2020, the interest coverage of MICHENAUD AND CO S.A (1.0x) 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Excellent situation: suppliers finance 46 days of the operating cycle (retail model). Inventory turnover is 115 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 102 days of revenue, i.e. 1.6 M€ to permanently finance.

Operating WCR (2020) ?
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

1 600 409 €

Customer credit (2020) ?
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

1 j

Supplier credit (2020) ?
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

47 j

Inventory turnover (2020) ?
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

115 j

WCR in days of revenue (2020) ?
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

102 j

WCR and payment terms evolution
MICHENAUD AND CO S.A

Positioning of MICHENAUD AND CO S.A in its sector

Comparison with sector Commerce de détail d'autres équipements du foyer

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 374 830€ to 1 076 248€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2020
Indicative
374k€ 616k€ 1076k€
616 474 € Range: 374 830€ - 1 076 248€
NAF 5 année 2020

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 28 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 (Commerce de détail d'autres équipements du foyer)

Compare MICHENAUD AND CO S.A with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de détail d'autres équipements du foyer

Frequently asked questions about MICHENAUD AND CO S.A

What is the revenue of MICHENAUD AND CO S.A ?

The revenue of MICHENAUD AND CO S.A in 2020 is 5.7 M€.

Is MICHENAUD AND CO S.A profitable?

Yes, MICHENAUD AND CO S.A generated a net profit of 105 k€ in 2020.

Where is the headquarters of MICHENAUD AND CO S.A ?

The headquarters of MICHENAUD AND CO S.A is located in NANTES (44000), in the department Loire-Atlantique.

Where to find the tax return of MICHENAUD AND CO S.A ?

The tax return of MICHENAUD AND CO S.A 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 MICHENAUD AND CO S.A operate?

MICHENAUD AND CO S.A operates in the sector Commerce de détail d'autres équipements du foyer (NAF code 47.59B). See the 'Sector positioning' section above to compare the company with its competitors.