BILLAUDEAU CONDITIONNEMENT : revenue, balance sheet and financial ratios

In 2025, BILLAUDEAU CONDITIONNEMENT achieves revenue of 2.7 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +9.9%. Vs 2024, growth of +30% (2.1 M€ -> 2.7 M€). After deducting consumption (1.8 M€), gross margin stands at 886 k€, i.e. a rate of 32%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 67 k€, representing 2.5% of revenue. Warning negative scissor effect: despite revenue change (+30%), EBITDA varies by -36%, reducing margin by 2.5 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 41 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 129%. Debt level is high: negotiating margin with banks is reduced. 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 4.9 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 123.68. 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 13.6x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 103 days. Excellent situation: suppliers finance 38 days of the operating cycle (retail model). Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 132 days of revenue, i.e. 1.0 M€ to permanently finance. Over 2017-2025, WCR increased by +359%, requiring additional financing.

Based on 50 transactions of similar company sales (all years), the value of BILLAUDEAU CONDITIONNEMENT is estimated at 335 612 € (range 171 244€ - 750 954€). With an EBITDA of 67 001€, the sector multiple of 1.8x is applied. The price/revenue ratio is 0.32x (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.