DURANCE GRANULATS : revenue, balance sheet and financial ratios

In 2024, DURANCE GRANULATS achieves revenue of 30.1 M€. Revenue is growing positively over 9 years (CAGR: +1.9%). Slight decline of -8% vs 2023. After deducting consumption (2.0 M€), gross margin stands at 28.1 M€, i.e. a rate of 93%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.9 M€, representing 22.8% of revenue. Positive scissor effect: EBITDA margin improves by +3.0 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -64 k€ (-0.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 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 72.20. 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 10.8x. 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: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 84 days. Excellent situation: suppliers finance 41 days of the operating cycle (retail model). Inventory turnover is 82 days (= Average inventory / Cost of goods x 360). WCR is negative (-65 days): operations structurally generate cash. Notable WCR improvement over the period (-133%), freeing up cash.

Based on 95 transactions of similar company sales (all years), the value of DURANCE GRANULATS is estimated at 8 035 278 € (range 2 507 796€ - 46 475 812€). With an EBITDA of 6 867 977€, the sector multiple of 1.4x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.