PHOTOVOLTAIQUE JOUANNET : revenue, balance sheet and financial ratios

In 2024, PHOTOVOLTAIQUE JOUANNET achieves revenue of 803 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.4%. Vs 2023, growth of +13% (709 k€ -> 803 k€). After deducting consumption (95 k€), gross margin stands at 708 k€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 355 k€, representing 44.2% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -9 k€ (-1.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 97%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 49%. 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 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 42.4% 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 1234.57. 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 4.8x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 82 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 11 days. The gap of 71 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 118 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 79 days of revenue, i.e. 175 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (34 transactions). This range of 118 967€ to 634 035€ is provided for information purposes only and requires in-depth analysis to be confirmed.