ETABLISSEMENTS THIVENT : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS THIVENT achieves revenue of 1.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.4%. Vs 2023, growth of +56% (830 k€ -> 1.3 M€). After deducting consumption (446 k€), gross margin stands at 847 k€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 173 k€, representing 13.4% of revenue. Positive scissor effect: EBITDA margin improves by +3.3 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 113 k€, i.e. 8.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 57%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.0% 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 274.99. 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 0.1x. 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: 103 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 76 days. The company must finance 27 days of gap between collections and payments. Inventory turnover is 32 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 96 days of revenue, i.e. 345 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (29 transactions). This range of 101 402€ to 486 990€ is provided for information purposes only and requires in-depth analysis to be confirmed.