ALTUS ENERGY : revenue, balance sheet and financial ratios

In 2024, ALTUS ENERGY achieves revenue of 3.7 M€. Revenue is growing positively over 9 years (CAGR: +2.2%). Slight decline of -8% vs 2023. After deducting consumption (202 k€), gross margin stands at 3.5 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 251 k€, representing 6.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.7 M€, i.e. 45.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 87%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 102.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 1011.79. 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 13.7x. 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: 47 days. The company must finance 1 days of gap between collections and payments. Inventory turnover is 36 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 535 days of revenue, i.e. 5.5 M€ to permanently finance. Over 2016-2024, WCR increased by +155%, requiring additional financing.

Based on 197 transactions of similar company sales (all years), the value of ALTUS ENERGY is estimated at 1 308 807 € (range 545 944€ - 3 127 893€). With an EBITDA of 250 618€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.28x (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.