DELZIA : revenue, balance sheet and financial ratios

In 2024, DELZIA achieves revenue of 8.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.5%. Vs 2023, growth of +20% (6.7 M€ -> 8.1 M€). After deducting consumption (3.1 M€), gross margin stands at 5.0 M€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.5 M€, representing 18.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.0 M€, i.e. 12.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 29%. 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 69%. 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 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.8% 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 771.14. 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 0.6x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 15 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 60 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 65 days of revenue, i.e. 1.5 M€ to permanently finance. Over 2016-2024, WCR increased by +1337%, requiring additional financing.

Based on 121 transactions of similar company sales (all years), the value of DELZIA is estimated at 3 777 277 € (range 1 658 848€ - 8 933 601€). With an EBITDA of 1 478 161€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.