CASSIOPEE MANAGEMENT : revenue, balance sheet and financial ratios

In 2024, CASSIOPEE MANAGEMENT achieves revenue of 176 k€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +105.5%. Vs 2022, growth of +114% (82 k€ -> 176 k€). After deducting consumption (6 k€), gross margin stands at 170 k€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7 k€, representing 3.9% of revenue. Warning negative scissor effect: despite revenue change (+114%), EBITDA varies by -41%, reducing margin by 10.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 107 k€, i.e. 60.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 58%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 60.2% 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 204.46. 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 30.7x. 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: 113 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 114 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Overall, WCR represents 189 days of revenue, i.e. 92 k€ to permanently finance. Over 2019-2024, WCR increased by +1110%, requiring additional financing.

Based on 173 transactions of similar company sales (all years), the value of CASSIOPEE MANAGEMENT is estimated at 107 192 € (range 38 063€ - 271 767€). With an EBITDA of 6 897€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.