FRANCHE COMTE TRAVAUX PUBLICS : revenue, balance sheet and financial ratios

In 2024, FRANCHE COMTE TRAVAUX PUBLICS achieves revenue of 42.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.6%. Vs 2023, growth of +27% (33.6 M€ -> 42.7 M€). After deducting consumption (4.9 M€), gross margin stands at 37.7 M€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.3 M€, representing 12.5% of revenue. Warning negative scissor effect: despite revenue change (+27%), EBITDA varies by +8%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.5 M€, i.e. 8.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 18%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 365.27. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 128 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. The gap of 47 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 242 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 54 days of revenue, i.e. 6.5 M€ to permanently finance. Notable WCR improvement over the period (-32%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 2 486 298€ to 48 439 445€ is provided for information purposes only and requires in-depth analysis to be confirmed.