MIROITERIE TECHNIQUE : revenue, balance sheet and financial ratios

In 2024, MIROITERIE TECHNIQUE achieves revenue of 5.7 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +15.1%. Vs 2023: +4%. After deducting consumption (2.5 M€), gross margin stands at 3.2 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 698 k€, representing 12.3% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -24%, reducing margin by 4.4 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 338 k€, i.e. 5.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 414%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.2% 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 194.72. 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 26.8x. 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: 25 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 99 days. Excellent situation: suppliers finance 74 days of the operating cycle (retail model). Inventory turnover is 200 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 237 days of revenue, i.e. 3.7 M€ to permanently finance.

Based on 228 transactions of similar company sales (all years), the value of MIROITERIE TECHNIQUE is estimated at 878 425 € (range 350 962€ - 2 331 903€). With an EBITDA of 698 054€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.