BUTTERFLY AERO TRAINING : revenue, balance sheet and financial ratios

In 2024, BUTTERFLY AERO TRAINING achieves revenue of 3.9 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.5%. Vs 2023: +7%. After deducting consumption (119 €), gross margin stands at 3.9 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 753 k€, representing 19.1% of revenue. Warning negative scissor effect: despite revenue change (+7%), EBITDA varies by -17%, reducing margin by 5.6 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 688 k€, i.e. 17.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 61%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 20.2% 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 372.80. 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 8.1x. 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: 52 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. The gap of 33 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 59 days of revenue, i.e. 641 k€ to permanently finance. Over 2022-2024, WCR increased by +42%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of BUTTERFLY AERO TRAINING is estimated at 3 335 764 € (range 1 132 019€ - 5 814 847€). With an EBITDA of 753 224€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (in line with sector norms). 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.