FITNHEALTH PARTICIPATION : revenue, balance sheet and financial ratios

In 2024, FITNHEALTH PARTICIPATION achieves revenue of 200 k€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +13.9%. Slight decline of -2% vs 2023. After deducting consumption (0 €), gross margin stands at 200 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 34 k€, representing 16.8% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -17%, reducing margin by 3.0 pts. This reflects costs rising faster than 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 27 k€, i.e. 13.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 48%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 66%. 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 7.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 13.7% 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 191.28. 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 6.1x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Overall, WCR represents 24 days of revenue, i.e. 13 k€ to permanently finance. Notable WCR improvement over the period (-33%), freeing up cash.

Based on 54 transactions of similar company sales in 2024, the value of FITNHEALTH PARTICIPATION is estimated at 124 419 € (range 40 760€ - 222 100€). With an EBITDA of 33 579€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.59x (in line with sector norms). 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.