G.P.F : revenue, balance sheet and financial ratios

In 2024, G.P.F achieves revenue of 707 k€. Revenue is growing positively over 9 years (CAGR: +0.8%). Slight decline of -8% vs 2023. After deducting consumption (0 €), gross margin stands at 707 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9 k€, representing 1.2% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -66%, 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 3.5 M€, i.e. 500.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 47%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 50%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 329.9% 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 173.52. 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 725.1x. 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: 149 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 85 days. The gap of 64 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 638 days of revenue, i.e. 1.3 M€ to permanently finance. Notable WCR improvement over the period (-23%), freeing up cash.

Based on 103 transactions of similar company sales in 2024, the value of G.P.F is estimated at 6 823 612 € (range 2 349 897€ - 18 297 176€). With an EBITDA of 8 716€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.