ENTREPRISE NEGRO : revenue, balance sheet and financial ratios

In 2024, ENTREPRISE NEGRO achieves revenue of 9.5 M€. Activity remains stable over the period (CAGR: -4.2%). Significant drop of -33% vs 2023. After deducting consumption (4.2 M€), gross margin stands at 5.3 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 13.0% of revenue. Positive scissor effect: EBITDA margin improves by +4.9 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 915 k€, i.e. 9.6% 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 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.2% 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 116.29. 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 1.3x. 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: 99 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 76 days. The company must finance 23 days of gap between collections and payments. Inventory turnover is 337 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 25 days of revenue, i.e. 650 k€ to permanently finance. Notable WCR improvement over the period (-90%), freeing up cash.

Based on 51 transactions of similar company sales in 2024, the value of ENTREPRISE NEGRO is estimated at 1 989 499 € (range 989 713€ - 3 190 176€). With an EBITDA of 1 237 404€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.14x (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.