AA NANTERRE : revenue, balance sheet and financial ratios

In 2024, AA NANTERRE achieves revenue of 666 k€. Activity remains stable over the period (CAGR: -1.4%). Slight decline of -5% vs 2023. After deducting consumption (226 k€), gross margin stands at 440 k€, i.e. a rate of 66%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 127 k€, representing 19.1% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -17%, reducing margin by 2.6 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4 k€, i.e. 0.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 52%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 155.88. 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 22.2x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 291 days. Excellent situation: suppliers finance 222 days of the operating cycle (retail model). Inventory turnover is 42 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 342 days of revenue, i.e. 633 k€ to permanently finance. Over 2016-2024, WCR increased by +281%, requiring additional financing.

Based on 117 transactions of similar company sales in 2024, the value of AA NANTERRE is estimated at 360 299 € (range 235 162€ - 639 682€). With an EBITDA of 127 109€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (in line with sector norms). 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.