FULCHIRON INDUSTRIELLE : revenue, balance sheet and financial ratios

In 2024, FULCHIRON INDUSTRIELLE achieves revenue of 21.6 M€. Activity remains stable over the period (CAGR: -0.2%). Slight decline of -10% vs 2023. After deducting consumption (3.7 M€), gross margin stands at 17.8 M€, i.e. a rate of 83%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.8 M€, representing 17.5% of revenue. Positive scissor effect: EBITDA margin improves by +5.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 459 k€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 49%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.9% 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 91.86. 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 1.0x. 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: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 196 days. Excellent situation: suppliers finance 133 days of the operating cycle (retail model). Inventory turnover is 48 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 110 days of revenue, i.e. 6.6 M€ to permanently finance. Over 2016-2024, WCR increased by +162%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of FULCHIRON INDUSTRIELLE is estimated at 3 906 243 € (range 1 282 247€ - 21 288 596€). With an EBITDA of 3 779 056€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.