FEYEL & ARTZNER : revenue, balance sheet and financial ratios

In 2024, FEYEL & ARTZNER achieves revenue of 16.9 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.6%. Vs 2023, growth of +10% (15.3 M€ -> 16.9 M€). After deducting consumption (9.2 M€), gross margin stands at 7.6 M€, i.e. a rate of 45%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 465 k€, representing 2.8% of revenue. Positive scissor effect: EBITDA margin improves by +2.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 169 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 62%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 4.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.0% 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 234.26. 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 43.1x. 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: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. Favorable situation: supplier credit is longer than customer credit by 16 days. Inventory turnover is 111 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 100 days of revenue, i.e. 4.7 M€ to permanently finance.

Based on 108 transactions of similar company sales (all years), the value of FEYEL & ARTZNER is estimated at 2 294 510 € (range 1 251 576€ - 4 516 104€). With an EBITDA of 465 455€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.26x (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.