ZENITH DEVELOPPEMENT : revenue, balance sheet and financial ratios

ZENITH DEVELOPPEMENT is a French company founded 17 years ago, specialized in the sector Autres commerces de détail en magasin non spécialisé. Based in SAINTE-MAXIME (83120), this company of category PME shows in 2022 a revenue of 296 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - ZENITH DEVELOPPEMENT (SIREN 511285645)
Indicator 2022 2021 2020 2019 2018 2017
Revenue 295 698 € 246 949 € 328 507 € 334 334 € 343 774 € 346 334 €
Net income 25 057 € 22 757 € 1 551 € 13 430 € 6 087 € 21 432 €
EBITDA 32 035 € 25 400 € 10 389 € 27 765 € 15 211 € 32 192 €
Net margin 8.5% 9.2% 0.5% 4.0% 1.8% 6.2%

Revenue and income statement

In 2022, ZENITH DEVELOPPEMENT achieves revenue of 296 k€. Activity remains stable over the period (CAGR: -3.1%). Vs 2021, growth of +20% (247 k€ -> 296 k€). After deducting consumption (145 k€), gross margin stands at 150 k€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 32 k€, representing 10.8% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 25 k€, i.e. 8.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

295 698 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

150 255 €

EBITDA (2022) ?
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

32 035 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

27 175 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

25 057 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

10.2%

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Chart evolution

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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 111%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 3.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 10.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

110.893%

Financial autonomy (2022) ?
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

45.345%

Cash flow / Revenue (2022) ?
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

10.499%

Repayment capacity (2022) ?
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

3.818

Asset age ratio (2022) ?
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

24.2%

Solvency indicators evolution
ZENITH DEVELOPPEMENT

Sector positioning

Debt ratio
110.89 2022
2020
2021
2022
Q1: -35.11
Med: 12.17
Q3: 94.36
Average

In 2022, the debt ratio of ZENITH DEVELOPPEMENT (110.89) 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
45.34% 2022
2020
2021
2022
Q1: 0.0%
Med: 19.75%
Q3: 46.72%
Good

In 2022, the financial autonomy of ZENITH DEVELOPPEMENT (45.3%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
3.82 years 2022
2020
2021
2022
Q1: -0.64 years
Med: 0.0 years
Q3: 1.74 years
Watch

In 2022, the repayment capacity of ZENITH DEVELOPPEMENT (3.82) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 128.94. 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 3.6x. Financial charges are adequately covered by operations.

Liquidity ratio (2022) ?
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

128.939

Interest coverage (2022) ?
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

3.64

Liquidity indicators evolution
ZENITH DEVELOPPEMENT

Sector positioning

Liquidity ratio
128.94 2022
2020
2021
2022
Q1: 93.07
Med: 155.56
Q3: 269.07
Average +19 pts over 3 years

In 2022, the liquidity ratio of ZENITH DEVELOPPEMENT (128.94) 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
3.64x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.1x
Q3: 2.53x
Excellent

In 2022, the interest coverage of ZENITH DEVELOPPEMENT (3.6x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 79 days. Excellent situation: suppliers finance 79 days of the operating cycle (retail model). Inventory turnover is 162 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-31 days): operations structurally generate cash. Over 2017-2022, WCR increased by +73%, requiring additional financing.

Operating WCR (2022) ?
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

-25 859 €

Customer credit (2022) ?
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

0 j

Supplier credit (2022) ?
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

79 j

Inventory turnover (2022) ?
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

162 j

WCR in days of revenue (2022) ?
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

-31 j

WCR and payment terms evolution
ZENITH DEVELOPPEMENT

Positioning of ZENITH DEVELOPPEMENT in its sector

Comparison with sector Autres commerces de détail en magasin non spécialisé

Valuation estimate

Based on 185 transactions of similar company sales (all years), the value of ZENITH DEVELOPPEMENT is estimated at 94 653 € (range 37 006€ - 216 217€). With an EBITDA of 32 035€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.28x (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.

Estimated enterprise value 2022
185 transactions
37k€ 94k€ 216k€
94 653 € Range: 37 006€ - 216 217€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
32 035 € × 3.3x
Estimation 106 174 €
33 672€ - 195 889€
Revenue Multiple 30%
295 698 € × 0.28x
Estimation 82 785 €
43 232€ - 251 096€
Net Income Multiple 20%
25 057 € × 3.3x
Estimation 83 656 €
36 005€ - 214 721€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 185 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 (Autres commerces de détail en magasin non spécialisé)

Compare ZENITH DEVELOPPEMENT with other companies in the same sector:

Voir toutes les statistiques du secteur Autres commerces de détail en magasin non spécialisé

Frequently asked questions about ZENITH DEVELOPPEMENT

What is the revenue of ZENITH DEVELOPPEMENT ?

The revenue of ZENITH DEVELOPPEMENT in 2022 is 296 k€.

Is ZENITH DEVELOPPEMENT profitable?

Yes, ZENITH DEVELOPPEMENT generated a net profit of 25 k€ in 2022.

Where is the headquarters of ZENITH DEVELOPPEMENT ?

The headquarters of ZENITH DEVELOPPEMENT is located in SAINTE-MAXIME (83120), in the department Var.

Where to find the tax return of ZENITH DEVELOPPEMENT ?

The tax return of ZENITH DEVELOPPEMENT 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 ZENITH DEVELOPPEMENT operate?

ZENITH DEVELOPPEMENT operates in the sector Autres commerces de détail en magasin non spécialisé (NAF code 47.19B). See the 'Sector positioning' section above to compare the company with its competitors.