BOURGOGNE FORMATION INCENDIE : revenue, balance sheet and financial ratios

In 2023, BOURGOGNE FORMATION INCENDIE achieves revenue of 331 k€. Revenue is growing positively over 8 years (CAGR: +4.1%). Vs 2022: +7%. After deducting consumption (26 k€), gross margin stands at 305 k€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 25 k€, representing 7.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2 k€, i.e. 0.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 70%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 48%. 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 4.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.9% 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 266.77. 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 4.6x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 102 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 20 days. The gap of 82 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 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 95 days of revenue, i.e. 88 k€ to permanently finance. Over 2016-2023, WCR increased by +25%, requiring additional financing.

Based on 134 transactions of similar company sales (all years), the value of BOURGOGNE FORMATION INCENDIE is estimated at 63 835 € (range 22 126€ - 146 863€). With an EBITDA of 24 916€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.36x (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.