ARMA DECOUP : revenue, balance sheet and financial ratios

In 2024, ARMA DECOUP achieves revenue of 4.4 M€. Revenue is growing positively over 8 years (CAGR: +2.9%). Slight decline of -5% vs 2023. After deducting consumption (2.6 M€), gross margin stands at 1.7 M€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 261 k€, representing 6.0% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -56%, reducing margin by 6.7 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 274 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 84%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 5.8% 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 631.14. 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 0.3x. 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: 28 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. The company must finance 2 days of gap between collections and payments. Inventory turnover is 48 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 66 days of revenue, i.e. 804 k€ to permanently finance.

Based on 76 transactions of similar company sales (all years), the value of ARMA DECOUP is estimated at 526 525 € (range 222 730€ - 1 097 332€). With an EBITDA of 261 077€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.