FIRST2LOC : revenue, balance sheet and financial ratios

FIRST2LOC is a French company founded 7 years ago, specialized in the sector Location de courte durée de voitures et de véhicules automobiles légers. Based in SANARY-SUR-MER (83110), this company of category PME shows in 2023 a revenue of 126 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - FIRST2LOC (SIREN 843319443)
Indicator 2023 2022 2021 2020
Revenue 125 641 € 152 000 € 153 796 € 140 000 €
Net income -22 771 € 15 639 € 19 502 € 47 060 €
EBITDA 40 872 € 124 511 € 124 392 € 120 876 €
Net margin -18.1% 10.3% 12.7% 33.6%

Revenue and income statement

In 2023, FIRST2LOC achieves revenue of 126 k€. Activity remains stable over the period (CAGR: -3.5%). Significant drop of -17% vs 2022. After deducting consumption (17 k€), gross margin stands at 109 k€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 41 k€, representing 32.5% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -67%, reducing margin by 49.4 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -23 k€ (-18.1% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

125 641 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

108 813 €

EBITDA (2023) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

40 872 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-37 941 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-22 771 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

32.5%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 984%. 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 86%. 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 3.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 46.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

983.55%

Financial autonomy (2023) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

85.663%

Cash flow / Revenue (2023) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

46.477%

Repayment capacity (2023) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

3.057

Asset age ratio (2023) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

12.7%

Solvency indicators evolution
FIRST2LOC

Sector positioning

Debt ratio
983.55 2023
2021
2022
2023
Q1: 0.0
Med: 21.2
Q3: 129.09
Average +8 pts over 3 years

In 2023, the debt ratio of FIRST2LOC (983.55) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
85.66% 2023
2021
2022
2023
Q1: 0.62%
Med: 22.93%
Q3: 50.03%
Excellent +45 pts over 3 years

In 2023, the financial autonomy of FIRST2LOC (85.7%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
3.06 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.11 years
Q3: 2.31 years
Average +24 pts over 3 years

In 2023, the repayment capacity of FIRST2LOC (3.06) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 691.02. 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 0.6x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2023) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

691.02

Interest coverage (2023) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.629

Liquidity indicators evolution
FIRST2LOC

Sector positioning

Liquidity ratio
691.02 2023
2021
2022
2023
Q1: 83.78
Med: 171.26
Q3: 332.26
Excellent +53 pts over 3 years

In 2023, the liquidity ratio of FIRST2LOC (691.02) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
0.63x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.0x
Q3: 3.83x
Good

In 2023, the interest coverage of FIRST2LOC (0.6x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. Favorable situation: supplier credit is longer than customer credit by 26 days. Overall, WCR represents 367 days of revenue, i.e. 128 k€ to permanently finance. Over 2020-2023, WCR increased by +142%, requiring additional financing.

Operating WCR (2023) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

127 952 €

Customer credit (2023) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

0 j

Supplier credit (2023) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

26 j

Inventory turnover (2023) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2023) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

367 j

WCR and payment terms evolution
FIRST2LOC

Positioning of FIRST2LOC in its sector

Comparison with sector Location de courte durée de voitures et de véhicules automobiles légers

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of FIRST2LOC is estimated at 415 172 € (range 87 738€ - 558 274€). With an EBITDA of 40 872€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (premium 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.

Estimated enterprise value 2023
276 transactions
87k€ 415k€ 558k€
415 172 € Range: 87 738€ - 558 274€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
40 872 € × 11.9x
Estimation 488 356 €
99 308€ - 664 485€
Revenue Multiple 30%
125 641 € × 2.33x
Estimation 293 200 €
68 454€ - 381 256€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 276 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Location de courte durée de voitures et de véhicules automobiles légers)

Compare FIRST2LOC with other companies in the same sector:

Voir toutes les statistiques du secteur Location de courte durée de voitures et de véhicules automobiles légers

Frequently asked questions about FIRST2LOC

What is the revenue of FIRST2LOC ?

The revenue of FIRST2LOC in 2023 is 126 k€.

Is FIRST2LOC profitable?

FIRST2LOC recorded a net loss in 2023.

Where is the headquarters of FIRST2LOC ?

The headquarters of FIRST2LOC is located in SANARY-SUR-MER (83110), in the department Var.

Where to find the tax return of FIRST2LOC ?

The tax return of FIRST2LOC is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does FIRST2LOC operate?

FIRST2LOC operates in the sector Location de courte durée de voitures et de véhicules automobiles légers (NAF code 77.11A). See the 'Sector positioning' section above to compare the company with its competitors.