CAINIAO (FRANCE) : revenue, balance sheet and financial ratios

In 2025, CAINIAO (FRANCE) achieves revenue of 71.1 M€. Over the period 2022-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +206.7%. Vs 2024, growth of +730% (8.6 M€ -> 71.1 M€). After deducting consumption (0 €), gross margin stands at 71.1 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 1.8 M€, representing 2.5% of revenue. Warning negative scissor effect: despite revenue change (+730%), EBITDA varies by +169%, reducing margin by 5.3 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 2.6 M€, i.e. 3.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 205%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.6% 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 138.26. 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 3.3x. 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 79 days. Favorable situation: supplier credit is longer than customer credit by 21 days. Overall, WCR represents 106 days of revenue, i.e. 20.9 M€ to permanently finance. Over 2022-2025, WCR increased by +310%, requiring additional financing.

Based on 167 transactions of similar company sales (all years), the value of CAINIAO (FRANCE) is estimated at 3 405 709 € (range 2 441 727€ - 6 286 958€). With an EBITDA of 1 808 211€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.11x (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.