DROUILLARD : revenue, balance sheet and financial ratios

In 2024, DROUILLARD achieves revenue of 1.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.0%. Vs 2023: +4%. After deducting consumption (165 k€), gross margin stands at 1.3 M€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 172 k€, representing 11.9% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -13%, reducing margin by 2.3 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 41 k€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 61%. 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 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.0% 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 273.76. 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 3.1x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. The company must finance 10 days of gap between collections and payments. Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 101 days of revenue, i.e. 408 k€ to permanently finance. Over 2016-2024, WCR increased by +232%, requiring additional financing.

Based on 125 transactions of similar company sales (all years), the value of DROUILLARD is estimated at 418 273 € (range 163 848€ - 713 587€). With an EBITDA of 172 199€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.35x (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.