CHAULET ERIC TRAVAUX PUBLICS : revenue, balance sheet and financial ratios

In 2021, CHAULET ERIC TRAVAUX PUBLICS achieves revenue of 173 k€. Revenue is growing positively over 5 years (CAGR: +0.1%). Slight decline of -3% vs 2020. After deducting consumption (58 k€), gross margin stands at 115 k€, i.e. a rate of 66%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 30 k€, representing 17.3% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -25%, reducing margin by 5.1 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at 0 € (0.0% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 1023%. 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 7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 36.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 378.92. 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 1.3x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 59 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. The company must finance 15 days of gap between collections and payments. Inventory turnover is 19 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 52 days of revenue, i.e. 25 k€ to permanently finance. Over 2017-2021, WCR increased by +43%, requiring additional financing.

Based on 120 transactions of similar company sales (all years), the value of CHAULET ERIC TRAVAUX PUBLICS is estimated at 40 295 € (range 13 931€ - 99 725€). With an EBITDA of 29 958€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.22x (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.