INTER INVEST : revenue, balance sheet and financial ratios

In 2019, INTER INVEST achieves revenue of 30.6 M€. Over the period 2015-2019, the company shows strong growth with a CAGR (compound annual growth rate) of +24.5%. Vs 2018, growth of +32% (23.2 M€ -> 30.6 M€). After deducting consumption (0 €), gross margin stands at 30.6 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 26.6% of revenue. Warning negative scissor effect: despite revenue change (+32%), EBITDA varies by +18%, reducing margin by 3.1 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 4.8 M€, i.e. 15.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 39%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 21%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 26.5% 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 87.03. 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 16.2x. 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: 203 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 117 days. The gap of 86 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-739 days): operations structurally generate cash. Notable WCR improvement over the period (-182%), freeing up cash.

Based on 103 transactions of similar company sales (all years), the value of INTER INVEST is estimated at 16 370 857 € (range 7 280 058€ - 36 368 909€). With an EBITDA of 8 136 330€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.30x (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.