GROUPE NOCIBE : revenue, balance sheet and financial ratios

In 2025, GROUPE NOCIBE achieves revenue of 897.6 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +124.4%. Vs 2024: +1%. After deducting consumption (468.9 M€), gross margin stands at 428.7 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 102.6 M€, representing 11.4% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -18%, reducing margin by 2.7 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 46.6 M€, i.e. 5.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 20%. 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 60%. 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.2% 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 137.91. 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 4.9x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Excellent situation: suppliers finance 54 days of the operating cycle (retail model). Inventory turnover is 59 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 74 days of revenue, i.e. 184.8 M€ to permanently finance. Over 2016-2025, WCR increased by +1000%, requiring additional financing.

Based on 132 transactions of similar company sales (all years), the value of GROUPE NOCIBE is estimated at 298 245 305 € (range 152 284 691€ - 584 086 420€). With an EBITDA of 102 618 129€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.35x (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.