DEFENSE CONSEIL INTERNATIONAL SCES ASSIS : revenue, balance sheet and financial ratios

In 2024, DEFENSE CONSEIL INTERNATIONAL SCES ASSIS achieves revenue of 94.2 M€. Revenue is growing positively over 8 years (CAGR: +0.8%). Slight decline of -9% vs 2023. After deducting consumption (286 k€), gross margin stands at 93.9 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.3 M€, representing 4.6% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -53%, reducing margin by 4.2 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 5.3 M€, i.e. 5.6% 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 29%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 181.53. 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 14.8x. 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: 157 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 365 days. Excellent situation: suppliers finance 208 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 117 days of revenue, i.e. 30.6 M€ to permanently finance. Notable WCR improvement over the period (-46%), freeing up cash.

Based on 134 transactions of similar company sales (all years), the value of DEFENSE CONSEIL INTERNATIONAL SCES ASSIS is estimated at 17 923 493 € (range 6 238 002€ - 48 830 548€). With an EBITDA of 4 344 085€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.36x (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.