FAMILLE GIRAUDON INVESTISSEMENT : revenue, balance sheet and financial ratios

In 2023, FAMILLE GIRAUDON INVESTISSEMENT achieves revenue of 331 k€. Revenue is declining over the period 2016-2023 (CAGR: -31.4%). Vs 2022, growth of +52% (218 k€ -> 331 k€). After deducting consumption (82 k€), gross margin stands at 249 k€, i.e. a rate of 75%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 48 k€, representing 14.4% of revenue. Warning negative scissor effect: despite revenue change (+52%), EBITDA varies by -31%, reducing margin by 17.3 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Net income is negative at -95 k€ (-28.6% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 27%. 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 72%. 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 50.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 1048.91. 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 73.1x. 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: 254 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 131 days. The gap of 123 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 110 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 168 days of revenue, i.e. 154 k€ to permanently finance. Notable WCR improvement over the period (-92%), freeing up cash.

Based on 77 transactions of similar company sales in 2023, the value of FAMILLE GIRAUDON INVESTISSEMENT is estimated at 226 894 € (range 123 821€ - 326 224€). With an EBITDA of 47 676€, the sector multiple of 5.5x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.