DRILLING-FRANCE : revenue, balance sheet and financial ratios

In 2025, DRILLING-FRANCE achieves revenue of 1.8 M€. Over the period 2024-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +44.0%. Vs 2024, growth of +44% (1.3 M€ -> 1.8 M€). After deducting consumption (9 k€), gross margin stands at 1.8 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 266 k€, representing 14.4% of revenue. Positive scissor effect: EBITDA margin improves by +13.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 238 k€, i.e. 12.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 150%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.6% 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 309.18. 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 0.4x. 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: 139 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 45 days. The gap of 94 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 124 days of revenue, i.e. 634 k€ to permanently finance.

Based on 120 transactions of similar company sales (all years), the value of DRILLING-FRANCE is estimated at 474 449 € (range 156 839€ - 1 222 094€). With an EBITDA of 266 025€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.22x (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.