MILLERY AUTOMOBILES : revenue, balance sheet and financial ratios

In 2025, MILLERY AUTOMOBILES achieves revenue of 565 k€. Over the period 2019-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +8.8%. Vs 2023, growth of +34% (423 k€ -> 565 k€). After deducting consumption (270 k€), gross margin stands at 296 k€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 44 k€, representing 7.9% of revenue. Positive scissor effect: EBITDA margin improves by +5.5 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 25 k€, i.e. 4.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 157%. 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 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 193.08. 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 1.6x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 37 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. The company must finance 11 days of gap between collections and payments. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 30 days of revenue, i.e. 47 k€ to permanently finance. Over 2019-2025, WCR increased by +27%, requiring additional financing.

Based on 131 transactions of similar company sales in 2025, the value of MILLERY AUTOMOBILES is estimated at 168 040 € (range 98 566€ - 347 223€). With an EBITDA of 44 410€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.50x (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.