ETABLISSEMENTS DUEZ ET COMPAGNIE : revenue, balance sheet and financial ratios

In 2023, ETABLISSEMENTS DUEZ ET COMPAGNIE achieves revenue of 6.5 M€. Over the period 2017-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +6.5%. Vs 2021: +4%. After deducting consumption (1.1 M€), gross margin stands at 5.5 M€, i.e. a rate of 84%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 540 k€, representing 8.3% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -56%, reducing margin by 11.3 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 381 k€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 75%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.6% 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 400.84. 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 0.3x. 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: 88 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 31 days. The gap of 57 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 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 109 days of revenue, i.e. 2.0 M€ to permanently finance. Over 2017-2023, WCR increased by +32%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (37 transactions). This range of 101 440€ to 314 981€ is provided for information purposes only and requires in-depth analysis to be confirmed.