PM FRANCE PACKAGING : revenue, balance sheet and financial ratios

In 2024, PM FRANCE PACKAGING achieves revenue of 9.3 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +31.0%. Vs 2023: +8%. After deducting consumption (6.5 M€), gross margin stands at 2.9 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 684 k€, representing 7.3% of revenue. Warning negative scissor effect: despite revenue change (+8%), EBITDA varies by -26%, reducing margin by 3.3 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 423 k€, i.e. 4.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 41%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 176.34. 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 40.3x. 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: 66 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 110 days. Excellent situation: suppliers finance 44 days of the operating cycle (retail model). Inventory turnover is 42 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 116 days of revenue, i.e. 3.0 M€ to permanently finance. Over 2017-2024, WCR increased by +8689%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of PM FRANCE PACKAGING is estimated at 3 889 385 € (range 1 586 023€ - 5 840 856€). With an EBITDA of 683 566€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.