COPA FOURNITURES : revenue, balance sheet and financial ratios

In 2024, COPA FOURNITURES achieves revenue of 306 k€. Revenue is declining over the period 2016-2024 (CAGR: -11.2%). Vs 2023, growth of +63% (188 k€ -> 306 k€). After deducting consumption (193 k€), gross margin stands at 113 k€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 28 k€, representing 9.1% of revenue. Positive scissor effect: EBITDA margin improves by +24.5 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 26 k€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 63%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 20%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.5% 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 137.99. 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 1.6x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 77 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 106 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Overall, WCR represents 77 days of revenue, i.e. 66 k€ to permanently finance. Notable WCR improvement over the period (-26%), freeing up cash.

Based on 124 transactions of similar company sales (all years), the value of COPA FOURNITURES is estimated at 61 898 € (range 25 344€ - 137 454€). With an EBITDA of 27 937€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.17x (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.