FONCIERE LA MALTEROSE : revenue, balance sheet and financial ratios

In 2024, FONCIERE LA MALTEROSE achieves revenue of 4.8 M€. Activity remains stable over the period (CAGR: -1.8%). Vs 2023, growth of +61% (3.0 M€ -> 4.8 M€). After deducting consumption (0 €), gross margin stands at 4.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 308 k€, representing 6.4% of revenue. Warning negative scissor effect: despite revenue change (+61%), EBITDA varies by +21%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 208 k€, i.e. 4.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 20%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 131.25. 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 12.5x. 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: 102 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 90 days. The company must finance 12 days of gap between collections and payments. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 119 days of revenue, i.e. 1.6 M€ to permanently finance.

Based on 113 transactions of similar company sales (all years), the value of FONCIERE LA MALTEROSE is estimated at 824 514 € (range 357 545€ - 1 733 983€). With an EBITDA of 308 239€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.