ETS GRAFFEUILLE : revenue, balance sheet and financial ratios

In 2025, ETS GRAFFEUILLE achieves revenue of 17.3 M€. Revenue is growing positively over 9 years (CAGR: +1.5%). Slight decline of -7% vs 2024. After deducting consumption (7.7 M€), gross margin stands at 9.6 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.2 M€, representing 12.8% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -20%, reducing margin by 2.1 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 983 k€, i.e. 5.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 56%. 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 3.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 8.9% 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 374.89. 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 4.6x. 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: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 46 days. Favorable situation: supplier credit is longer than customer credit by 2 days. Inventory turnover is 152 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 308 days of revenue, i.e. 14.8 M€ to permanently finance. Over 2016-2025, WCR increased by +159%, requiring additional financing.

Based on 131 transactions of similar company sales in 2025, the value of ETS GRAFFEUILLE is estimated at 6 569 425 € (range 3 701 224€ - 13 638 545€). With an EBITDA of 2 217 230€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.50x (in line with sector norms). 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.