CAPDIS : revenue, balance sheet and financial ratios

In 2024, CAPDIS achieves revenue of 26.9 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +26.5%. Slight decline of -6% vs 2023. After deducting consumption (20.7 M€), gross margin stands at 6.2 M€, i.e. a rate of 23%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.3 M€, representing 8.5% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.6 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.7% 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 203.11. 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 11.5x. 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: 141 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 30 days. The gap of 111 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 37 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 175 days of revenue, i.e. 13.1 M€ to permanently finance. Over 2017-2024, WCR increased by +531%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of CAPDIS is estimated at 2 210 076 € (range 1 331 038€ - 4 916 686€). With an EBITDA of 2 286 202€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.