CARROSSERIE BERTRANGEOISE : revenue, balance sheet and financial ratios

In 2023, CARROSSERIE BERTRANGEOISE achieves revenue of 266 k€. Over the period 2017-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +6.1%. Vs 2020, growth of +23% (217 k€ -> 266 k€). After deducting consumption (101 k€), gross margin stands at 165 k€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 10 k€, representing 3.7% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 77%. 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 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 169.13. 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 2.5x. 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: 17 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 31 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 14 days of revenue, i.e. 11 k€ to permanently finance. Over 2017-2023, WCR increased by +66%, requiring additional financing.

Based on 139 transactions of similar company sales in 2023, the value of CARROSSERIE BERTRANGEOISE is estimated at 52 870 € (range 31 415€ - 89 504€). With an EBITDA of 9 834€, the sector multiple of 4.1x is applied. The price/revenue ratio is 0.36x (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.