IMMOBILIERE FONCIERE FINANCIERE : revenue, balance sheet and financial ratios

In 2021, IMMOBILIERE FONCIERE FINANCIERE achieves revenue of 542 k€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +11.1%. Vs 2020, growth of +16% (469 k€ -> 542 k€). After deducting consumption (203 k€), gross margin stands at 339 k€, i.e. a rate of 63%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 198 k€, representing 36.6% of revenue. Warning negative scissor effect: despite revenue change (+16%), EBITDA varies by -28%, reducing margin by 22.2 pts. This reflects costs rising faster than 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 372 k€, i.e. 68.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 80%. 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 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 75.4% 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 1562.29. 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 7.0x. 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: 4 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 248 days. Excellent situation: suppliers finance 244 days of the operating cycle (retail model). Overall, WCR represents 1295 days of revenue, i.e. 2.0 M€ to permanently finance. Over 2016-2021, WCR increased by +80%, requiring additional financing.

Based on 178 transactions of similar company sales in 2021, the value of IMMOBILIERE FONCIERE FINANCIERE is estimated at 1 067 812 € (range 469 264€ - 2 139 503€). With an EBITDA of 198 227€, the sector multiple of 4.7x is applied. The price/revenue ratio is 0.70x (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.