ETABLISSEMENTS COMBES ET FILS : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS COMBES ET FILS achieves revenue of 3.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.3%. Vs 2023: +8%. After deducting consumption (271 k€), gross margin stands at 2.9 M€, i.e. a rate of 91%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 521 k€, representing 16.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 198 k€, i.e. 6.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 35%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 60%. 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 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 12.6% 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 339.49. 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 2.7x. 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: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. The company must finance 16 days of gap between collections and payments. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 22 days of revenue, i.e. 192 k€ to permanently finance. Over 2016-2024, WCR increased by +66%, requiring additional financing.

Based on 71 transactions of similar company sales in 2024, the value of ETABLISSEMENTS COMBES ET FILS is estimated at 589 615 € (range 288 793€ - 1 683 682€). With an EBITDA of 521 192€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.23x (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.