NEAUME PATRIMOINE : revenue, balance sheet and financial ratios

In 2018, NEAUME PATRIMOINE achieves revenue of 30 k€. Activity remains stable over the period (CAGR: -2.9%). Slight decline of -6% vs 2017. After deducting consumption (0 €), gross margin stands at 30 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 16 k€, representing 51.5% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -10%, reducing margin by 2.3 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 -11 k€ (-36.8% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at -79%. 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 119%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 46.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 24.8% 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 28.74. 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 40.9x. 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: 348 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 230 days. The gap of 118 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-4486 days): operations structurally generate cash.

Based on 64 transactions of similar company sales in 2018, the value of NEAUME PATRIMOINE is estimated at 15 101 € (range 8 079€ - 32 333€). With an EBITDA of 15 597€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.30x (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.