BPM CARS - EAGLE 45 : revenue, balance sheet and financial ratios

In 2024, BPM CARS - EAGLE 45 achieves revenue of 34.6 M€. Revenue is growing positively over 9 years (CAGR: +0.8%). Slight decline of -7% vs 2023. After deducting consumption (29.2 M€), gross margin stands at 5.4 M€, i.e. a rate of 16%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 807 k€, representing 2.3% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -56%, reducing margin by 2.6 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 492 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 1.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 111.28. 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 32.0x. 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: 30 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 122 days. Excellent situation: suppliers finance 92 days of the operating cycle (retail model). Inventory turnover is 142 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 142 days of revenue, i.e. 13.7 M€ to permanently finance. Over 2016-2024, WCR increased by +48%, requiring additional financing.

Based on 147 transactions of similar company sales in 2024, the value of BPM CARS - EAGLE 45 is estimated at 6 278 116 € (range 3 395 414€ - 11 396 886€). With an EBITDA of 807 033€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.35x (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.