BATIPART R3 : revenue, balance sheet and financial ratios

In 2023, BATIPART R3 achieves revenue of 1.6 M€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +8.9%. Vs 2022, growth of +40% (1.1 M€ -> 1.6 M€). After deducting consumption (0 €), gross margin stands at 1.6 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 846 k€, representing 53.3% of revenue. Warning negative scissor effect: despite revenue change (+40%), EBITDA varies by +4%, reducing margin by 18.6 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 394 k€, i.e. 24.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 982%. 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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 12.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 45.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 113.30. 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 16.1x. 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: 14 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. Favorable situation: supplier credit is longer than customer credit by 10 days. WCR is negative (-93 days): operations structurally generate cash. Notable WCR improvement over the period (-23%), freeing up cash.

Based on 215 transactions of similar company sales in 2023, the value of BATIPART R3 is estimated at 2 870 517 € (range 827 763€ - 4 924 899€). With an EBITDA of 846 171€, the sector multiple of 5.2x is applied. The price/revenue ratio is 0.51x (in line with sector norms). 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.