GAFA : revenue, balance sheet and financial ratios

In 2024, GAFA achieves revenue of 3.5 M€. Activity remains stable over the period (CAGR: -1.3%). Slight decline of -4% vs 2023. After deducting consumption (2.2 M€), gross margin stands at 1.3 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 57 k€, representing 1.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 81 k€, i.e. 2.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 83%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 681.89. 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 5.5x. 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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. Favorable situation: supplier credit is longer than customer credit by 25 days. Inventory turnover is 146 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 152 days of revenue, i.e. 1.5 M€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (30 transactions). This range of 235 032€ to 807 835€ is provided for information purposes only and requires in-depth analysis to be confirmed.