COMPAGNIE DE DISTRIBUTION DES GAZ DE L'AIR : revenue, balance sheet and financial ratios

In 2024, COMPAGNIE DE DISTRIBUTION DES GAZ DE L'AIR achieves revenue of 585 k€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.1%. Vs 2023: +9%. After deducting consumption (14 k€), gross margin stands at 571 k€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 178 k€, representing 30.4% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -13%, reducing margin by 7.6 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 175 k€, i.e. 29.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 111%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 29.9% 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 521.77. 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 1.4x. 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: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Overall, WCR represents 102 days of revenue, i.e. 166 k€ to permanently finance. Notable WCR improvement over the period (-25%), freeing up cash.

Based on 117 transactions of similar company sales in 2024, the value of COMPAGNIE DE DISTRIBUTION DES GAZ DE L'AIR is estimated at 531 166 € (range 336 476€ - 1 067 960€). With an EBITDA of 177 863€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (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.