AIC ENVIRONNEMENT : revenue, balance sheet and financial ratios

In 2024, AIC ENVIRONNEMENT achieves revenue of 1.2 M€. Revenue is growing positively over 9 years (CAGR: +1.3%). Slight decline of -10% vs 2023. After deducting consumption (3 k€), gross margin stands at 1.2 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 55 k€, representing 4.5% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -51%, reducing margin by 3.8 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 44 k€, i.e. 3.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 24%. 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 63%. 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 3.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 412.71. 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 6.1x. 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: 116 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. The gap of 94 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 104 days of revenue, i.e. 353 k€ to permanently finance.

Based on 98 transactions of similar company sales (all years), the value of AIC ENVIRONNEMENT is estimated at 271 150 € (range 76 077€ - 453 331€). With an EBITDA of 55 360€, the sector multiple of 3.5x is applied. The price/revenue ratio is 0.36x (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.