IMMOBILIERE K.S.T. : revenue, balance sheet and financial ratios

In 2024, IMMOBILIERE K.S.T. achieves revenue of 686 k€. Revenue is growing positively over 10 years (CAGR: +3.4%). Vs 2023: +1%. After deducting consumption (0 €), gross margin stands at 686 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 291 k€, representing 42.4% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -7%, reducing margin by 3.7 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 364 k€, i.e. 53.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 85%. 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 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 56.2% 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 596.16. 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 2.2x. 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: 29 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. Favorable situation: supplier credit is longer than customer credit by 10 days. Overall, WCR represents 434 days of revenue, i.e. 827 k€ to permanently finance. Over 2015-2024, WCR increased by +109%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of IMMOBILIERE K.S.T. is estimated at 1 476 101 € (range 428 067€ - 2 662 530€). With an EBITDA of 290 635€, 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.