BRICO THENON : revenue, balance sheet and financial ratios

In 2024, BRICO THENON achieves revenue of 726 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +111.7%. Slight decline of -2% vs 2023. After deducting consumption (455 k€), gross margin stands at 271 k€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 78 k€, representing 10.8% of revenue. Positive scissor effect: EBITDA margin improves by +4.8 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 44 k€, i.e. 6.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 170%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 8.2% 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 335.64. 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 11.8x. 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 40 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 161 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 149 days of revenue, i.e. 301 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (30 transactions). This range of 122 257€ to 570 385€ is provided for information purposes only and requires in-depth analysis to be confirmed.