GRISA CHAUDRONNERIE : revenue, balance sheet and financial ratios

In 2024, GRISA CHAUDRONNERIE achieves revenue of 1.2 M€. Activity remains stable over the period (CAGR: -1.6%). Vs 2023: +3%. After deducting consumption (326 k€), gross margin stands at 882 k€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 14 k€, representing 1.2% of revenue. Positive scissor effect: EBITDA margin improves by +6.8 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 2 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 310%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 13%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 26.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 153.22. 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 26.9x. 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: 71 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 90 days. Favorable situation: supplier credit is longer than customer credit by 19 days. Inventory turnover is 44 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 110 days of revenue, i.e. 368 k€ to permanently finance. Over 2018-2024, WCR increased by +32%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of GRISA CHAUDRONNERIE is estimated at 54 655 € (range 29 816€ - 78 745€). With an EBITDA of 14 004€, 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.