CETINKAYA IMMOBILIER : revenue, balance sheet and financial ratios

In 2024, CETINKAYA IMMOBILIER achieves revenue of 863 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +14.2%. Vs 2023, growth of +27% (681 k€ -> 863 k€). After deducting consumption (0 €), gross margin stands at 863 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 469 k€, representing 54.4% of revenue. Warning negative scissor effect: despite revenue change (+27%), EBITDA varies by +10%, reducing margin by 8.4 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 60 k€, i.e. 6.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -278706%. 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 -0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 41.1% 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 84.37. 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 25.1x. 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: 102 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 595 days. Excellent situation: suppliers finance 493 days of the operating cycle (retail model). Overall, WCR represents 47 days of revenue, i.e. 113 k€ to permanently finance. Over 2018-2024, WCR increased by +10017%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of CETINKAYA IMMOBILIER is estimated at 1 604 617 € (range 452 201€ - 2 883 123€). With an EBITDA of 469 421€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.