COMBUSTIBLES TURLAN SARL : revenue, balance sheet and financial ratios

In 2021, COMBUSTIBLES TURLAN SARL achieves revenue of 1.5 M€. Revenue is declining over the period 2015-2021 (CAGR: -9.9%). Significant drop of -26% vs 2020. After deducting consumption (1.2 M€), gross margin stands at 342 k€, i.e. a rate of 23%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 48 k€, representing 3.2% of revenue. Warning negative scissor effect: despite revenue change (-26%), EBITDA varies by -62%, reducing margin by 3.1 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 28 k€, i.e. 1.8% 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 76%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 298.14. 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 1.0x. 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: 9 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 21 days. Favorable situation: supplier credit is longer than customer credit by 12 days. Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 17 days of revenue, i.e. 71 k€ to permanently finance.

Based on 105 transactions of similar company sales in 2021, the value of COMBUSTIBLES TURLAN SARL is estimated at 323 137 € (range 206 459€ - 616 490€). With an EBITDA of 47 950€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.50x (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.