BLUE TANK : revenue, balance sheet and financial ratios

In 2024, BLUE TANK achieves revenue of 23.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +13.9%. Significant drop of -19% vs 2023. After deducting consumption (12.1 M€), gross margin stands at 11.0 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.6 M€, representing 19.7% of revenue. Warning negative scissor effect: despite revenue change (-19%), EBITDA varies by -28%, reducing margin by 2.5 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 3.5 M€, i.e. 15.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 80%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.7% 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 651.37. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. The company must finance 17 days of gap between collections and payments. Inventory turnover is 64 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 135 days of revenue, i.e. 8.7 M€ to permanently finance. Over 2016-2024, WCR increased by +266%, requiring additional financing.

Based on 276 transactions of similar company sales (all years), the value of BLUE TANK is estimated at 7 235 872 € (range 2 385 606€ - 18 192 211€). With an EBITDA of 4 552 444€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.