CARRIERES ET BALLASTIERES DES ALPES : revenue, balance sheet and financial ratios

In 2024, CARRIERES ET BALLASTIERES DES ALPES achieves revenue of 18.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.4%. Vs 2023, growth of +10% (16.9 M€ -> 18.7 M€). After deducting consumption (1.4 M€), gross margin stands at 17.3 M€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.7 M€, representing 19.8% of revenue. Positive scissor effect: EBITDA margin improves by +8.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 334 k€, i.e. 1.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 173%. 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 31%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 14.8% 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 591.91. 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 12.9x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. The company must finance 11 days of gap between collections and payments. Inventory turnover is 188 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 188 days of revenue, i.e. 9.7 M€ to permanently finance. Over 2016-2024, WCR increased by +65%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of CARRIERES ET BALLASTIERES DES ALPES is estimated at 3 667 847 € (range 1 175 112€ - 20 478 999€). With an EBITDA of 3 695 863€, 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.