TONNELLERIE DE MERCUREY : revenue, balance sheet and financial ratios

In 2025, TONNELLERIE DE MERCUREY achieves revenue of 14.0 M€. Revenue is growing positively over 9 years (CAGR: +3.1%). Significant drop of -17% vs 2024. After deducting consumption (8.0 M€), gross margin stands at 6.0 M€, i.e. a rate of 43%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 756 k€, representing 5.4% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -70%, reducing margin by 9.5 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 286 k€, i.e. 2.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 23%. 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 66%. 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 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.3% 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 596.99. 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 24.6x. 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: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. The company must finance 26 days of gap between collections and payments. Inventory turnover is 96 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 192 days of revenue, i.e. 7.5 M€ to permanently finance. Over 2017-2025, WCR increased by +41%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (44 transactions). This range of 685 029€ to 3 117 863€ is provided for information purposes only and requires in-depth analysis to be confirmed.