A.R. BOIS COMMERCIAL : revenue, balance sheet and financial ratios

In 2024, A.R. BOIS COMMERCIAL achieves revenue of 7.8 M€. Revenue is growing positively over 9 years (CAGR: +2.9%). Significant drop of -14% vs 2023. After deducting consumption (6.6 M€), gross margin stands at 1.1 M€, i.e. a rate of 15%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 324 k€, representing 4.2% of revenue. Warning negative scissor effect: despite revenue change (-14%), EBITDA varies by -51%, reducing margin by 3.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 73 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 244%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 19.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 358.73. 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 58.7x. 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: 25 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 29 days. Favorable situation: supplier credit is longer than customer credit by 4 days. Inventory turnover is 199 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 229 days of revenue, i.e. 4.9 M€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (39 transactions). This range of 405 291€ to 825 980€ is provided for information purposes only and requires in-depth analysis to be confirmed.