ASSISTANCE PROVENCE ALPES : revenue, balance sheet and financial ratios

In 2024, ASSISTANCE PROVENCE ALPES achieves revenue of 5.5 M€. Revenue is growing positively over 3 years (CAGR: +1.4%). Vs 2022: +3%. After deducting consumption (280 k€), gross margin stands at 5.2 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 658 k€, representing 12.0% of revenue. Warning negative scissor effect: despite revenue change (+3%), EBITDA varies by -18%, reducing margin by 3.1 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 471 k€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 169%. 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 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 9.1% 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 377.01. 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 11.9x. 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: 162 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 108 days. The gap of 54 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 22 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 479 days of revenue, i.e. 7.3 M€ to permanently finance.

Based on 53 transactions of similar company sales (all years), the value of ASSISTANCE PROVENCE ALPES is estimated at 1 734 001 € (range 703 100€ - 2 881 852€). With an EBITDA of 657 695€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.35x (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.