FRANCE FIL INTERNATIONAL : revenue, balance sheet and financial ratios

In 2024, FRANCE FIL INTERNATIONAL achieves revenue of 11.8 M€. Revenue is growing positively over 9 years (CAGR: +2.2%). Vs 2023: +3%. After deducting consumption (4.5 M€), gross margin stands at 7.3 M€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 689 k€, representing 5.8% of revenue. Positive scissor effect: EBITDA margin improves by +2.0 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 174 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 50%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 2.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 224.17. 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 13.4x. 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: 23 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Excellent situation: suppliers finance 34 days of the operating cycle (retail model). Inventory turnover is 110 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 111 days of revenue, i.e. 3.6 M€ to permanently finance.

Based on 56 transactions of similar company sales (all years), the value of FRANCE FIL INTERNATIONAL is estimated at 880 260 € (range 518 614€ - 1 648 085€). With an EBITDA of 689 398€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.