BASSE NORMANDIE SOUDURE TUYAUTERIE : revenue, balance sheet and financial ratios

In 2025, BASSE NORMANDIE SOUDURE TUYAUTERIE achieves revenue of 10.6 M€. Revenue is declining over the period 2017-2025 (CAGR: -9.1%). Significant drop of -20% vs 2024. After deducting consumption (547 k€), gross margin stands at 10.0 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 268 k€, representing 2.5% of revenue. Warning negative scissor effect: despite revenue change (-20%), EBITDA varies by -70%, reducing margin by 4.2 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 36 k€, i.e. 0.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -301%. 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 -7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 102.45. 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 25.4x. 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: 81 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. The gap of 31 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 30 days of revenue, i.e. 866 k€ to permanently finance. Notable WCR improvement over the period (-84%), freeing up cash.

Based on 56 transactions of similar company sales (all years), the value of BASSE NORMANDIE SOUDURE TUYAUTERIE is estimated at 560 645 € (range 314 449€ - 889 175€). With an EBITDA of 268 405€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.