MULHOUSIENNE DE SIEGES EXPANSION MUSIEX : revenue, balance sheet and financial ratios

MULHOUSIENNE DE SIEGES EXPANSION MUSIEX is a French company founded 42 years ago, specialized in the sector Commerce de détail de meubles. Based in GRENOBLE (38100), this company of category ETI shows in 2023 a revenue of 539 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - MULHOUSIENNE DE SIEGES EXPANSION MUSIEX (SIREN 327666046)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 539 046 € 631 777 € 707 245 € 680 438 € 796 017 € 938 163 € 813 113 € 851 539 €
Net income -68 942 € -13 779 € 20 399 € 30 973 € 14 378 € 65 745 € 28 024 € 39 499 €
EBITDA -46 611 € 14 291 € 47 609 € 56 663 € 44 812 € 106 470 € 49 765 € 43 432 €
Net margin -12.8% -2.2% 2.9% 4.6% 1.8% 7.0% 3.4% 4.6%

Revenue and income statement

In 2023, MULHOUSIENNE DE SIEGES EXPANSION MUSIEX achieves revenue of 539 k€. Revenue is declining over the period 2016-2023 (CAGR: -6.3%). Significant drop of -15% vs 2022. After deducting consumption (271 k€), gross margin stands at 268 k€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -47 k€, representing -8.6% of revenue. Warning negative scissor effect: despite revenue change (-15%), EBITDA varies by -426%, reducing margin by 10.9 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -69 k€ (-12.8% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

539 046 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

268 276 €

EBITDA (2023) ?
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

-46 611 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-68 478 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-68 942 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-8.6%

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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 670%. 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 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

669.668%

Financial autonomy (2023) ?
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

1.252%

Cash flow / Revenue (2023) ?
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

-12.174%

Repayment capacity (2023) ?
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

-0.224

Asset age ratio (2023) ?
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

14.3%

Solvency indicators evolution
MULHOUSIENNE DE SIEGES EXPANSION MUSIEX

Sector positioning

Debt ratio
669.67 2023
2021
2022
2023
Q1: 2.12
Med: 29.27
Q3: 93.95
Average +20 pts over 3 years

In 2023, the debt ratio of MULHOUSIENNE DE SIEGES EX... (669.67) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
1.25% 2023
2021
2022
2023
Q1: 12.04%
Med: 28.81%
Q3: 48.02%
Average -19 pts over 3 years

In 2023, the financial autonomy of MULHOUSIENNE DE SIEGES EX... (1.2%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-0.22 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.61 years
Q3: 2.58 years
Excellent -33 pts over 3 years

In 2023, the repayment capacity of MULHOUSIENNE DE SIEGES EX... (-0.22) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 83.47. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2023) ?
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

83.466

Interest coverage (2023) ?
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

-1.997

Liquidity indicators evolution
MULHOUSIENNE DE SIEGES EXPANSION MUSIEX

Sector positioning

Liquidity ratio
83.47 2023
2021
2022
2023
Q1: 117.16
Med: 164.9
Q3: 258.07
Average

In 2023, the liquidity ratio of MULHOUSIENNE DE SIEGES EX... (83.47) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
-2.0x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.92x
Q3: 4.31x
Average -48 pts over 3 years

In 2023, the interest coverage of MULHOUSIENNE DE SIEGES EX... (-2.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 48 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 48 days (= Average inventory / Cost of goods x 360). WCR is negative (-2 days): operations structurally generate cash. Over 2016-2023, WCR increased by +75%, requiring additional financing.

Operating WCR (2023) ?
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

-3 412 €

Customer credit (2023) ?
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 (2023) ?
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

48 j

Inventory turnover (2023) ?
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

48 j

WCR in days of revenue (2023) ?
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

-2 j

WCR and payment terms evolution
MULHOUSIENNE DE SIEGES EXPANSION MUSIEX

Positioning of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX in its sector

Comparison with sector Commerce de détail de meubles

Valuation estimate

Based on 55 transactions of similar company sales in 2023, the value of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX is estimated at 106 472 € (range 65 524€ - 168 908€). The price/revenue ratio is 0.20x (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.

Estimated enterprise value 2023
55 tx
65k€ 106k€ 168k€
106 472 € Range: 65 524€ - 168 908€
NAF 5 année 2023

Valuation method used

Revenue Multiple
539 046 € × 0.20x = 106 473 €
Range: 65 525€ - 168 908€

Only this financial indicator is available for this company.

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 55 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 de meubles)

Compare MULHOUSIENNE DE SIEGES EXPANSION MUSIEX with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de détail de meubles

Frequently asked questions about MULHOUSIENNE DE SIEGES EXPANSION MUSIEX

What is the revenue of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX ?

The revenue of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX in 2023 is 539 k€.

Is MULHOUSIENNE DE SIEGES EXPANSION MUSIEX profitable?

MULHOUSIENNE DE SIEGES EXPANSION MUSIEX recorded a net loss in 2023.

Where is the headquarters of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX ?

The headquarters of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX is located in GRENOBLE (38100), in the department Isere.

Where to find the tax return of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX ?

The tax return of MULHOUSIENNE DE SIEGES EXPANSION MUSIEX 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 MULHOUSIENNE DE SIEGES EXPANSION MUSIEX operate?

MULHOUSIENNE DE SIEGES EXPANSION MUSIEX operates in the sector Commerce de détail de meubles (NAF code 47.59A). See the 'Sector positioning' section above to compare the company with its competitors.