DBF MONTPELLIER : revenue, balance sheet and financial ratios

In 2024, DBF MONTPELLIER achieves revenue of 141.7 M€. Revenue is growing positively over 10 years (CAGR: +4.8%). Slight decline of -5% vs 2023. After deducting consumption (117.7 M€), gross margin stands at 24.0 M€, i.e. a rate of 17%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 0.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 217 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 50%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 0.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 139.90. 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 29.7x. 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: 8 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 62 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 69 days of revenue, i.e. 27.3 M€ to permanently finance. Over 2015-2024, WCR increased by +32%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of DBF MONTPELLIER is estimated at 7 887 439 € (range 3 530 860€ - 13 814 013€). With an EBITDA of 1 184 526€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.