AERO TECHNIC SERVICES-ATS : revenue, balance sheet and financial ratios

In 2024, AERO TECHNIC SERVICES-ATS achieves revenue of 5.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +14.5%. Significant drop of -24% vs 2023. After deducting consumption (0 €), gross margin stands at 5.2 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 202 k€, representing 3.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 148 k€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 81%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 515.01. 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 1.2x. Coverage is limited: any activity downturn would jeopardize interest payments.

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: 16 days. The gap of 32 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 39 days of revenue, i.e. 560 k€ to permanently finance. Over 2016-2024, WCR increased by +26%, requiring additional financing.

Based on 147 transactions of similar company sales (all years), the value of AERO TECHNIC SERVICES-ATS is estimated at 386 730 € (range 220 280€ - 821 282€). With an EBITDA of 202 441€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.08x (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.