APPLICATION GENERALE ELECTRIQUE FONDIN : revenue, balance sheet and financial ratios

In 2025, APPLICATION GENERALE ELECTRIQUE FONDIN achieves revenue of 1.2 M€. Revenue is growing positively over 9 years (CAGR: +4.0%). Significant drop of -26% vs 2024. After deducting consumption (359 k€), gross margin stands at 873 k€, i.e. a rate of 71%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 106 k€, representing 8.6% of revenue. Warning negative scissor effect: despite revenue change (-26%), EBITDA varies by -56%, reducing margin by 6.0 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 83 k€, i.e. 6.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 76%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.0% 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 401.25. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 29 days. The company must finance 24 days of gap between collections and payments. Inventory turnover is 54 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 112 days of revenue, i.e. 383 k€ to permanently finance. Over 2017-2025, WCR increased by +46%, requiring additional financing.

Based on 283 transactions of similar company sales (all years), the value of APPLICATION GENERALE ELECTRIQUE FONDIN is estimated at 145 994 € (range 69 097€ - 415 651€). With an EBITDA of 106 073€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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.