DFD OUEST : revenue, balance sheet and financial ratios

In 2024, DFD OUEST achieves revenue of 10.2 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +50.2%. Vs 2023, growth of +33% (7.6 M€ -> 10.2 M€). After deducting consumption (413 k€), gross margin stands at 9.8 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.5 M€, representing 14.4% of revenue. Warning negative scissor effect: despite revenue change (+33%), EBITDA varies by -0%, reducing margin by 4.9 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 790 k€, i.e. 7.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 45%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.1% 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 182.06. 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 1.4x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 66 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. Favorable situation: supplier credit is longer than customer credit by 9 days. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 55 days of revenue, i.e. 1.5 M€ to permanently finance. Over 2018-2024, WCR increased by +554%, requiring additional financing.