FINANCIERE ET COMMERCIALE DE LA TUILERIE : revenue, balance sheet and financial ratios

In 2016, FINANCIERE ET COMMERCIALE DE LA TUILERIE achieves revenue of 317 k€. After deducting consumption (104 k€), gross margin stands at 213 k€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 91 k€, representing 28.8% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 39 k€, i.e. 12.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 218%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 33.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 209.50. 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 17.9x. 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: 572 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 140 days. The gap of 432 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 273 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 781 days of revenue, i.e. 688 k€ to permanently finance.

Based on 85 transactions of similar company sales (all years), the value of FINANCIERE ET COMMERCIALE DE LA TUILERIE is estimated at 86 255 € (range 46 830€ - 326 474€). With an EBITDA of 91 201€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.32x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.