BAIE D'ARMOR TRANSPORTS : revenue, balance sheet and financial ratios

BAIE D'ARMOR TRANSPORTS is a French company founded 13 years ago, specialized in the sector Transports urbains et suburbains de voyageurs. Based in TREGUEUX (22950), this company of category PME shows in 2024 a revenue of 20.3 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - BAIE D'ARMOR TRANSPORTS (SIREN 789610094)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Revenue 20 288 900 € 18 641 224 € 17 895 521 € 15 893 835 € 14 821 472 € 15 194 784 € 14 836 437 € 14 519 275 € 14 574 565 € 14 225 510 €
Net income 30 286 € 29 249 € 26 854 € 69 666 € 19 170 € -15 515 € 53 425 € 30 045 € 14 671 € -187 639 €
EBITDA 130 225 € -1 013 786 € -12 558 € -457 227 € -339 157 € -578 747 € -312 212 € -255 680 € -196 779 € -433 348 €
Net margin 0.1% 0.2% 0.2% 0.4% 0.1% -0.1% 0.4% 0.2% 0.1% -1.3%

Revenue and income statement

In 2024, BAIE D'ARMOR TRANSPORTS achieves revenue of 20.3 M€. Revenue is growing positively over 10 years (CAGR: +4.0%). Vs 2023: +9%. After deducting consumption (1.6 M€), gross margin stands at 18.7 M€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 130 k€, representing 0.6% of revenue. Positive scissor effect: EBITDA margin improves by +6.1 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 30 k€, i.e. 0.1% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

20 288 900 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

18 707 044 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

130 225 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-10 233 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

30 286 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

0.6%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 0.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.0%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

9.201%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

0.94%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

0.0

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

13.0%

Solvency indicators evolution
BAIE D'ARMOR TRANSPORTS

Sector positioning

Debt ratio
0.0 2024
2022
2023
2024
Q1: 0.0
Med: 0.28
Q3: 27.58
Excellent -41 pts over 3 years

In 2024, the debt ratio of BAIE D'ARMOR TRANSPORTS (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
9.2% 2024
2022
2023
2024
Q1: 6.39%
Med: 17.87%
Q3: 42.0%
Average

In 2024, the financial autonomy of BAIE D'ARMOR TRANSPORTS (9.2%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
0.0 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.09 years
Excellent -50 pts over 3 years

In 2024, the repayment capacity of BAIE D'ARMOR TRANSPORTS (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 109.48. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

109.485

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.0

Liquidity indicators evolution
BAIE D'ARMOR TRANSPORTS

Sector positioning

Liquidity ratio
109.48 2024
2022
2023
2024
Q1: 100.43
Med: 129.12
Q3: 209.11
Average

In 2024, the liquidity ratio of BAIE D'ARMOR TRANSPORTS (109.48) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
0.0x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 1.6x
Average

In 2024, the interest coverage of BAIE D'ARMOR TRANSPORTS (0.0x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 37 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 61 days. Favorable situation: supplier credit is longer than customer credit by 24 days. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 9 days of revenue, i.e. 498 k€ to permanently finance. Notable WCR improvement over the period (-28%), freeing up cash.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

498 092 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

37 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

61 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

3 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

9 j

WCR and payment terms evolution
BAIE D'ARMOR TRANSPORTS

Positioning of BAIE D'ARMOR TRANSPORTS in its sector

Comparison with sector Transports urbains et suburbains de voyageurs

Valuation estimate

Based on 206 transactions of similar company sales (all years), the value of BAIE D'ARMOR TRANSPORTS is estimated at 3 228 763 € (range 1 308 747€ - 5 777 242€). With an EBITDA of 130 225€, the sector multiple of 4.2x is applied. The price/revenue ratio is 0.48x (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.

Estimated enterprise value 2024
206 transactions
1308k€ 3228k€ 5777k€
3 228 763 € Range: 1 308 747€ - 5 777 242€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation detail by method

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EBITDA Multiple 50%
130 225 € × 4.2x
Estimation 548 176 €
261 917€ - 1 025 394€
Revenue Multiple 30%
20 288 900 € × 0.48x
Estimation 9 777 316 €
3 899 165€ - 17 375 923€
Net Income Multiple 20%
30 286 € × 3.5x
Estimation 107 405 €
40 196€ - 258 845€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 206 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Transports urbains et suburbains de voyageurs)

Compare BAIE D'ARMOR TRANSPORTS with other companies in the same sector:

Voir toutes les statistiques du secteur Transports urbains et suburbains de voyageurs

Frequently asked questions about BAIE D'ARMOR TRANSPORTS

What is the revenue of BAIE D'ARMOR TRANSPORTS ?

The revenue of BAIE D'ARMOR TRANSPORTS in 2024 is 20.3 M€.

Is BAIE D'ARMOR TRANSPORTS profitable?

Yes, BAIE D'ARMOR TRANSPORTS generated a net profit of 30 k€ in 2024.

Where is the headquarters of BAIE D'ARMOR TRANSPORTS ?

The headquarters of BAIE D'ARMOR TRANSPORTS is located in TREGUEUX (22950), in the department Cotes-d'Armor.

Where to find the tax return of BAIE D'ARMOR TRANSPORTS ?

The tax return of BAIE D'ARMOR TRANSPORTS is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does BAIE D'ARMOR TRANSPORTS operate?

BAIE D'ARMOR TRANSPORTS operates in the sector Transports urbains et suburbains de voyageurs (NAF code 49.31Z). See the 'Sector positioning' section above to compare the company with its competitors.