DOD&CIE : revenue, balance sheet and financial ratios

In 2024, DOD&CIE achieves revenue of 17.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.2%. After deducting consumption (12.5 M€), gross margin stands at 4.8 M€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 766 k€, representing 4.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 296 k€, i.e. 1.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 98%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 105.23. 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 1.4x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 111 days. Excellent situation: suppliers finance 42 days of the operating cycle (retail model). Overall, WCR represents 61 days of revenue, i.e. 2.9 M€ to permanently finance. Over 2016-2024, WCR increased by +83%, requiring additional financing.

Based on 145 transactions of similar company sales (all years), the value of DOD&CIE is estimated at 2 186 029 € (range 960 644€ - 5 684 584€). With an EBITDA of 765 986€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.