POUJOULAT : revenue, balance sheet and financial ratios

In 2025, POUJOULAT achieves revenue of 117.3 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +140.8%. Slight decline of -8% vs 2024. After deducting consumption (45.1 M€), gross margin stands at 72.3 M€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.6 M€, representing 5.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.6 M€, i.e. 2.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 73%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 12.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.1% 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 265.99. 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 59.1x. 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: 48 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 68 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 93 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 142 days of revenue, i.e. 46.2 M€ to permanently finance. Over 2017-2025, WCR increased by +97629%, requiring additional financing.