INSTITUT EUROPEEN F 2I : revenue, balance sheet and financial ratios

In 2025, INSTITUT EUROPEEN F 2I achieves revenue of 21.9 M€. Over the period 2013-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +10.7%. Slight decline of -5% vs 2024. After deducting consumption (0 €), gross margin stands at 21.9 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 8.1 M€, representing 36.7% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -13%, reducing margin by 3.5 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 6.0 M€, i.e. 27.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 44%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 28.8% 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 266.44. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 94 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. The gap of 70 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 66 days of revenue, i.e. 4.0 M€ to permanently finance. Over 2013-2025, WCR increased by +26%, requiring additional financing.

Based on 134 transactions of similar company sales (all years), the value of INSTITUT EUROPEEN F 2I is estimated at 14 615 051 € (range 5 266 248€ - 46 402 202€). With an EBITDA of 8 055 397€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.36x (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.