IMMOBILIER FRANCE VGRF : revenue, balance sheet and financial ratios

In 2024, IMMOBILIER FRANCE VGRF achieves revenue of 10.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +88.6%. Slight decline of -4% vs 2023. After deducting consumption (117 k€), gross margin stands at 9.9 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.1 M€, representing 60.4% of revenue. Positive scissor effect: EBITDA margin improves by +4.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.5 M€, i.e. 25.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 48%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 63%. 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 5.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 50.1% 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 397.30. 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 7.8x. 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: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 728 days. Excellent situation: suppliers finance 697 days of the operating cycle (retail model). Overall, WCR represents 818 days of revenue, i.e. 22.8 M€ to permanently finance. Over 2016-2024, WCR increased by +5647065%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of IMMOBILIER FRANCE VGRF is estimated at 22 839 319 € (range 6 454 449€ - 41 060 555€). With an EBITDA of 6 062 387€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.