DENJEAN GRANULATS : revenue, balance sheet and financial ratios

In 2024, DENJEAN GRANULATS achieves revenue of 23.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.8%. Vs 2023: +10%. After deducting consumption (8.3 M€), gross margin stands at 15.0 M€, i.e. a rate of 64%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.7 M€, representing 7.5% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by -35%, reducing margin by 5.1 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 852 k€, i.e. 3.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 207%. 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 21%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.7% 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 253.17. 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 10.2x. 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: 55 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. The company must finance 12 days of gap between collections and payments. Inventory turnover is 31 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 112 days of revenue, i.e. 7.2 M€ to permanently finance. Over 2016-2024, WCR increased by +88%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of DENJEAN GRANULATS is estimated at 2 642 569 € (range 1 027 466€ - 11 688 203€). With an EBITDA of 1 739 424€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.