ETS RAFFAILLAC FREDERIC : revenue, balance sheet and financial ratios

In 2024, ETS RAFFAILLAC FREDERIC achieves revenue of 1.4 M€. Revenue is growing positively over 9 years (CAGR: +3.7%). Slight decline of -3% vs 2023. After deducting consumption (947 k€), gross margin stands at 418 k€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 38 k€, representing 2.8% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -45%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 37 k€, i.e. 2.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 14%. 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 62%. 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 2.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 303.08. 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 5.7x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 37 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 64 days. Favorable situation: supplier credit is longer than customer credit by 27 days. Inventory turnover is 122 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 172 days of revenue, i.e. 651 k€ to permanently finance. Over 2016-2024, WCR increased by +35%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 81 593€ to 226 513€ is provided for information purposes only and requires in-depth analysis to be confirmed.