DELTA PERFORMANCE : revenue, balance sheet and financial ratios

In 2024, DELTA PERFORMANCE achieves revenue of 118 k€. Revenue is declining over the period 2015-2024 (CAGR: -7.3%). Significant drop of -60% vs 2023. After deducting consumption (0 €), gross margin stands at 118 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2 k€, representing 1.8% of revenue. Warning negative scissor effect: despite revenue change (-60%), EBITDA varies by -97%, reducing margin by 20.9 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 63 k€, i.e. 53.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -168%. 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 -97%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 95.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 219.31. 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 20.0x. 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: 702 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 25 days. The gap of 677 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 133 days of revenue, i.e. 44 k€ to permanently finance. Notable WCR improvement over the period (-80%), freeing up cash.

Based on 69 transactions of similar company sales in 2024, the value of DELTA PERFORMANCE is estimated at 115 003 € (range 47 361€ - 251 189€). With an EBITDA of 2 158€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.