FAN.ICA SPORT : revenue, balance sheet and financial ratios

In 2025, FAN.ICA SPORT achieves revenue of 5.0 M€. Revenue is growing positively over 9 years (CAGR: +2.7%). Slight decline of -2% vs 2024. After deducting consumption (3.2 M€), gross margin stands at 1.8 M€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 395 k€, representing 7.8% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -29%, reducing margin by 3.0 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 83 k€, i.e. 1.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 52%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 54%. 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 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.7% 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 617.13. 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 3.7x. 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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 97 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 102 days of revenue, i.e. 1.4 M€ to permanently finance. Over 2017-2025, WCR increased by +143%, requiring additional financing.

Based on 239 transactions of similar company sales (all years), the value of FAN.ICA SPORT is estimated at 1 173 739 € (range 541 320€ - 2 043 578€). With an EBITDA of 394 771€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.28x (conservative valuation). 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.