ANGERS EST AUTOMOBILES : revenue, balance sheet and financial ratios

In 2024, ANGERS EST AUTOMOBILES achieves revenue of 2.6 M€. Revenue is growing positively over 9 years (CAGR: +1.0%). Slight decline of -3% vs 2023. After deducting consumption (1.7 M€), gross margin stands at 974 k€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 222 k€, representing 8.4% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 110 k€, i.e. 4.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 63%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 46%. 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 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 353.45. 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 5.9x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 29 days. Favorable situation: supplier credit is longer than customer credit by 10 days. Inventory turnover is 111 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 121 days of revenue, i.e. 885 k€ to permanently finance. Over 2016-2024, WCR increased by +36%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of ANGERS EST AUTOMOBILES is estimated at 362 983 € (range 155 402€ - 672 248€). With an EBITDA of 221 757€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.