AMENAGEMENT IMMOBILIER ET COMMERCIAL : revenue, balance sheet and financial ratios

In 2024, AMENAGEMENT IMMOBILIER ET COMMERCIAL achieves revenue of 414 k€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.3%. Vs 2023: +6%. After deducting consumption (0 €), gross margin stands at 414 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 61 k€, representing 14.7% of revenue. Warning negative scissor effect: despite revenue change (+6%), EBITDA varies by -9%, reducing margin by 2.5 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 117 k€, i.e. 28.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 142%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 26.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 250.64. 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 19.9x. 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: 546 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 320 days. The gap of 226 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 487 days of revenue, i.e. 561 k€ to permanently finance. Over 2015-2024, WCR increased by +270%, requiring additional financing.

Based on 277 transactions of similar company sales (all years), the value of AMENAGEMENT IMMOBILIER ET COMMERCIAL is estimated at 128 092 € (range 42 874€ - 360 070€). With an EBITDA of 60 736€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.