CARRIERES AUDOIN ET FILS : revenue, balance sheet and financial ratios

In 2024, CARRIERES AUDOIN ET FILS achieves revenue of 13.4 M€. Revenue is growing positively over 8 years (CAGR: +0.7%). Slight decline of -7% vs 2023. After deducting consumption (2.1 M€), gross margin stands at 11.3 M€, i.e. a rate of 85%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.0 M€, representing 7.7% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -29%, reducing margin by 2.5 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -446 k€ (-3.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 70%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 4.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.1% 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 156.34. 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 26.6x. 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: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 98 days. Excellent situation: suppliers finance 62 days of the operating cycle (retail model). Inventory turnover is 191 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 282 days of revenue, i.e. 10.5 M€ to permanently finance. Over 2016-2024, WCR increased by +74%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of CARRIERES AUDOIN ET FILS is estimated at 1 790 695 € (range 708 616€ - 8 301 530€). With an EBITDA of 1 037 699€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.