HOLDING ROBERT ASSOCIES : revenue, balance sheet and financial ratios

In 2024, HOLDING ROBERT ASSOCIES achieves revenue of 48 k€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.2%. Vs 2023: +5%. After deducting consumption (-9 €), gross margin stands at 48 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 40 k€, representing 82.5% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 105 k€, i.e. 219.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 26%. 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 78%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 247.3% 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 805.16. 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 22.0x. 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: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 127 days. Excellent situation: suppliers finance 111 days of the operating cycle (retail model). Overall, WCR represents 42 days of revenue, i.e. 6 k€ to permanently finance. Notable WCR improvement over the period (-76%), freeing up cash.

Based on 173 transactions of similar company sales (all years), the value of HOLDING ROBERT ASSOCIES is estimated at 147 777 € (range 46 987€ - 344 970€). With an EBITDA of 39 552€, the sector multiple of 3.4x 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.