CONSTRUCTION REPARATION ET OUVRAGE D'ART TP : revenue, balance sheet and financial ratios

In 2024, CONSTRUCTION REPARATION ET OUVRAGE D'ART TP achieves revenue of 3.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.1%. After deducting consumption (425 k€), gross margin stands at 2.9 M€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 130 k€, representing 3.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 67 k€, i.e. 2.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 185%. 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 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 15.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 215.63. 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 42.6x. 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: 95 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 38 days. The gap of 57 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 35 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 110 days of revenue, i.e. 1.0 M€ to permanently finance. Over 2016-2024, WCR increased by +230%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of CONSTRUCTION REPARATION ET OUVRAGE D'ART TP is estimated at 182 391 € (range 117 477€ - 451 909€). With an EBITDA of 129 562€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.13x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.