DISTRIBUTION INDUSTRIELLE ET AUTOMOBILE NANTAISE : revenue, balance sheet and financial ratios

In 2024, DISTRIBUTION INDUSTRIELLE ET AUTOMOBILE NANTAISE achieves revenue of 90.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.5%. Vs 2023, growth of +22% (74.3 M€ -> 90.7 M€). After deducting consumption (70.1 M€), gross margin stands at 20.6 M€, i.e. a rate of 23%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.2 M€, representing 5.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.5 M€, i.e. 3.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 30%. 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 42%. 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 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 198.07. 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 9.1x. 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: 20 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 65 days. Excellent situation: suppliers finance 45 days of the operating cycle (retail model). Inventory turnover is 80 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 111 days of revenue, i.e. 27.9 M€ to permanently finance. Over 2016-2024, WCR increased by +96%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of DISTRIBUTION INDUSTRIELLE ET AUTOMOBILE NANTAISE is estimated at 6 067 783 € (range 3 208 647€ - 23 590 191€). With an EBITDA of 5 228 808€, the sector multiple of 0.8x is applied. The price/revenue ratio is 0.13x (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.