FISCHER FRANCE : revenue, balance sheet and financial ratios

In 2024, FISCHER FRANCE achieves revenue of 6.5 M€. Activity remains stable over the period (CAGR: -0.4%). Significant drop of -24% vs 2023. After deducting consumption (4.0 M€), gross margin stands at 2.4 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 34 k€, representing 0.5% of revenue. Warning negative scissor effect: despite revenue change (-24%), EBITDA varies by -90%, reducing margin by 3.6 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -69 k€ (-1.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 52%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

The liquidity ratio (= Current assets / Current liabilities) stands at 227.72. 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 122.8x. 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: 70 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. The gap of 36 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 18 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 75 days of revenue, i.e. 1.3 M€ to permanently finance.

Based on 145 transactions of similar company sales (all years), the value of FISCHER FRANCE is estimated at 518 077 € (range 280 713€ - 1 335 042€). With an EBITDA of 33 537€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.