TISSIER DE MALLERAIS ET ASSOCIES : revenue, balance sheet and financial ratios

In 2024, TISSIER DE MALLERAIS ET ASSOCIES achieves revenue of 14.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.1%. Vs 2023: +8%. After deducting consumption (0 €), gross margin stands at 14.5 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.5 M€, representing 30.8% of revenue. Positive scissor effect: EBITDA margin improves by +6.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.9 M€, i.e. 20.1% 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 57%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 23.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 191.11. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 146 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. The gap of 90 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 81 days of revenue, i.e. 3.3 M€ to permanently finance. Over 2016-2024, WCR increased by +525%, requiring additional financing.

Based on 193 transactions of similar company sales (all years), the value of TISSIER DE MALLERAIS ET ASSOCIES is estimated at 8 147 103 € (range 2 444 313€ - 27 095 938€). With an EBITDA of 4 463 701€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.98x (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.