HS AEROSPACE DIJON : revenue, balance sheet and financial ratios

In 2024, HS AEROSPACE DIJON achieves revenue of 49.9 M€. Revenue is growing positively over 9 years (CAGR: +0.9%). Vs 2023, growth of +16% (43.1 M€ -> 49.9 M€). After deducting consumption (28.7 M€), gross margin stands at 21.2 M€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.2 M€, representing 14.4% of revenue. Positive scissor effect: EBITDA margin improves by +6.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 5.0 M€, i.e. 10.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 76%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.2% 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 204.33. 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 6.0x. 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: 48 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 45 days. The company must finance 3 days of gap between collections and payments. Inventory turnover is 84 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 108 days of revenue, i.e. 14.9 M€ to permanently finance. Over 2016-2024, WCR increased by +63%, requiring additional financing.

Based on 197 transactions of similar company sales (all years), the value of HS AEROSPACE DIJON is estimated at 14 936 792 € (range 5 747 251€ - 34 550 167€). With an EBITDA of 7 164 987€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.28x (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.