CENTRALE PHOTOVOLTAIQUE DE FONTROUZAUD - CASTELNAUDARY : revenue, balance sheet and financial ratios

In 2023, CENTRALE PHOTOVOLTAIQUE DE FONTROUZAUD - CASTELNAUDARY achieves revenue of 413 k€. Revenue is growing positively over 8 years (CAGR: +0.8%). Vs 2022: +0%. After deducting consumption (0 €), gross margin stands at 413 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 222 k€, representing 53.6% of revenue. Warning negative scissor effect: despite revenue change (+0%), EBITDA varies by -15%, reducing margin by 9.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -82 k€ (-19.9% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at -206%. 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 -48%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 27.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 25.2% 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 75.19. 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 55.6x. 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: 30 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 172 days. Excellent situation: suppliers finance 142 days of the operating cycle (retail model). WCR is negative (-760 days): operations structurally generate cash. Notable WCR improvement over the period (-48%), freeing up cash.

Based on 85 transactions of similar company sales (all years), the value of CENTRALE PHOTOVOLTAIQUE DE FONTROUZAUD - CASTELNAUDARY is estimated at 442 297 € (range 57 879€ - 1 801 402€). With an EBITDA of 221 556€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.69x (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.