BIOENERGIE DU SUD-OUEST : revenue, balance sheet and financial ratios

In 2025, BIOENERGIE DU SUD-OUEST achieves revenue of 223.7 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +5.7%. Slight decline of -8% vs 2024. After deducting consumption (164.3 M€), gross margin stands at 59.4 M€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 28.6 M€, representing 12.8% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -30%, reducing margin by 4.0 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 11.7 M€, i.e. 5.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 55%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.0% 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 171.68. 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 9.0x. 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: 4 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 17 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 73 days of revenue, i.e. 45.1 M€ to permanently finance. Over 2016-2025, WCR increased by +233%, requiring additional financing.

Based on 74 transactions of similar company sales (all years), the value of BIOENERGIE DU SUD-OUEST is estimated at 17 578 088 € (range 8 088 584€ - 47 340 611€). With an EBITDA of 28 617 736€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.11x (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.