MIROITERIE ARTISTIC PISTON SE : revenue, balance sheet and financial ratios

In 2024, MIROITERIE ARTISTIC PISTON SE achieves revenue of 345 k€. Activity remains stable over the period (CAGR: -4.5%). Significant drop of -25% vs 2023. After deducting consumption (228 k€), gross margin stands at 117 k€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7 k€, representing 2.1% of revenue. Warning negative scissor effect: despite revenue change (-25%), EBITDA varies by -77%, reducing margin by 4.6 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 6 k€, i.e. 1.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 46%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 5.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 259.18. 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 2.9x. 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: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 108 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 149 days of revenue, i.e. 143 k€ to permanently finance. Over 2016-2024, WCR increased by +59%, requiring additional financing.

Based on 88 transactions of similar company sales (all years), the value of MIROITERIE ARTISTIC PISTON SE is estimated at 31 903 € (range 12 777€ - 56 477€). With an EBITDA of 7 189€, the sector multiple of 2.7x is applied. The price/revenue ratio is 0.18x (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.