DEPAN'CHAUFFAGE SERVICE : revenue, balance sheet and financial ratios

In 2024, DEPAN'CHAUFFAGE SERVICE achieves revenue of 3.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.5%. Significant drop of -10% vs 2023. After deducting consumption (843 k€), gross margin stands at 2.2 M€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 93 k€, representing 3.0% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -51%, reducing margin by 2.5 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 28 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 287%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 30.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 119.34. 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 56.3x. 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: 83 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 133 days. Excellent situation: suppliers finance 50 days of the operating cycle (retail model). Inventory turnover is 21 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 90 days of revenue, i.e. 765 k€ to permanently finance. Over 2016-2024, WCR increased by +194%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (28 transactions). This range of 121 309€ to 322 380€ is provided for information purposes only and requires in-depth analysis to be confirmed.