ALTUSIA CONSEIL : revenue, balance sheet and financial ratios

In 2019, ALTUSIA CONSEIL achieves revenue of 326 k€. Over the period 2016-2019, the company shows strong growth with a CAGR (compound annual growth rate) of +22.4%. Vs 2018, growth of +13% (287 k€ -> 326 k€). After deducting consumption (0 €), gross margin stands at 326 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 35 k€, representing 10.8% of revenue. Warning negative scissor effect: despite revenue change (+13%), EBITDA varies by -12%, reducing margin by 3.2 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 26 k€, i.e. 8.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 8%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 10.1% 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 284.40. 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 1.3x. 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: 106 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 14 days. The gap of 92 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 74 days of revenue, i.e. 67 k€ to permanently finance. Over 2016-2019, WCR increased by +121%, requiring additional financing.

Based on 73 transactions of similar company sales in 2019, the value of ALTUSIA CONSEIL is estimated at 125 629 € (range 70 265€ - 259 103€). With an EBITDA of 35 192€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.48x (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.