INGENICO BANKS AND ACQUIRERS FRANCE : revenue, balance sheet and financial ratios

In 2024, INGENICO BANKS AND ACQUIRERS FRANCE achieves revenue of 141.7 M€. Revenue is declining over the period 2020-2024 (CAGR: -5.7%). Significant drop of -14% vs 2023. After deducting consumption (89.5 M€), gross margin stands at 52.2 M€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9.1 M€, representing 6.4% of revenue. Warning negative scissor effect: despite revenue change (-14%), EBITDA varies by -46%, reducing margin by 3.8 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.9 M€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 407%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 139.95. 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 13.0x. 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: 86 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. Favorable situation: supplier credit is longer than customer credit by 6 days. Inventory turnover is 36 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 100 days of revenue, i.e. 39.4 M€ to permanently finance.

Based on 120 transactions of similar company sales (all years), the value of INGENICO BANKS AND ACQUIRERS FRANCE is estimated at 23 757 723 € (range 11 825 541€ - 61 854 209€). With an EBITDA of 9 080 248€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.27x (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.