ADOUR NETTOYAGE : revenue, balance sheet and financial ratios

In 2024, ADOUR NETTOYAGE achieves revenue of 49 k€. Revenue is declining over the period 2016-2024 (CAGR: -5.5%). Significant drop of -11% vs 2023. After deducting consumption (1 k€), gross margin stands at 47 k€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2 k€, representing 3.5% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -69%, reducing margin by 6.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 457 €, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 248%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 47.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 432.46. 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 68.8x. 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: 64 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. The gap of 45 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 77 days of revenue, i.e. 10 k€ to permanently finance. Over 2016-2024, WCR increased by +339%, requiring additional financing.

Based on 53 transactions of similar company sales (all years), the value of ADOUR NETTOYAGE is estimated at 7 603 € (range 3 125€ - 12 726€). With an EBITDA of 1 696€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.35x (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.