CARROSOISE ENROBAGE RECYCLAGE MATERIAUX : revenue, balance sheet and financial ratios

In 2024, CARROSOISE ENROBAGE RECYCLAGE MATERIAUX achieves revenue of 11.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +16.7%. Significant drop of -17% vs 2023. After deducting consumption (8.2 M€), gross margin stands at 2.8 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 941 k€, representing 8.6% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -38%, reducing margin by 2.9 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 397 k€, i.e. 3.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 102%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 29%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.1% 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 150.94. 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 6.6x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 58 days. Favorable situation: supplier credit is longer than customer credit by 12 days. Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 71 days of revenue, i.e. 2.2 M€ to permanently finance.

Based on 228 transactions of similar company sales (all years), the value of CARROSOISE ENROBAGE RECYCLAGE MATERIAUX is estimated at 1 291 304 € (range 556 040€ - 3 474 915€). With an EBITDA of 940 969€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.