DEWEFRANCE : revenue, balance sheet and financial ratios

In 2024, DEWEFRANCE achieves revenue of 7.7 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +13.3%. Slight decline of -3% vs 2023. After deducting consumption (4.5 M€), gross margin stands at 3.2 M€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 535 k€, representing 7.0% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -36%, reducing margin by 3.6 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 284 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 7%. 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 49%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.6% 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 141.76. 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 0.2x. 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: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 79 days. Favorable situation: supplier credit is longer than customer credit by 26 days. Inventory turnover is 10 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 50 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2017-2024, WCR increased by +39%, requiring additional financing.

Based on 229 transactions of similar company sales (all years), the value of DEWEFRANCE is estimated at 1 275 023 € (range 530 652€ - 3 653 661€). With an EBITDA of 535 141€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.