AUTO SERVICES DESBONNES ET FILS : revenue, balance sheet and financial ratios

In 2024, AUTO SERVICES DESBONNES ET FILS achieves revenue of 359 k€. Activity remains stable over the period (CAGR: -3.9%). Slight decline of -5% vs 2023. After deducting consumption (97 k€), gross margin stands at 262 k€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 39 k€, representing 10.7% of revenue. Positive scissor effect: EBITDA margin improves by +7.3 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7 k€, i.e. 1.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 57%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 147.13. 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 8.9x. 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: 106 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 179 days. Excellent situation: suppliers finance 73 days of the operating cycle (retail model). Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 215 days of revenue, i.e. 214 k€ to permanently finance. Over 2022-2024, WCR increased by +302%, requiring additional financing.

Based on 147 transactions of similar company sales in 2024, the value of AUTO SERVICES DESBONNES ET FILS is estimated at 149 866 € (range 67 546€ - 256 667€). With an EBITDA of 38 501€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.35x (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.