CIRON LE MANS : revenue, balance sheet and financial ratios

In 2024, CIRON LE MANS achieves revenue of 8.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.1%. Vs 2023: +8%. After deducting consumption (4.0 M€), gross margin stands at 4.5 M€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.0 M€, representing 24.1% of revenue. Warning negative scissor effect: despite revenue change (+8%), EBITDA varies by -13%, reducing margin by 5.9 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 1.5 M€, i.e. 17.8% 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 85%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 19.7% 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 657.37. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 80 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 63 days. The company must finance 17 days of gap between collections and payments. Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 180 days of revenue, i.e. 4.2 M€ to permanently finance. Over 2016-2024, WCR increased by +126%, requiring additional financing.

Based on 147 transactions of similar company sales in 2024, the value of CIRON LE MANS is estimated at 7 867 299 € (range 3 207 632€ - 13 885 442€). With an EBITDA of 2 038 240€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.35x (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.