ISOCAB FRANCE : revenue, balance sheet and financial ratios

In 2024, ISOCAB FRANCE achieves revenue of 129.8 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.2%. Vs 2023: +2%. After deducting consumption (86.1 M€), gross margin stands at 43.7 M€, i.e. a rate of 34%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 10.6 M€, representing 8.2% of revenue. Warning negative scissor effect: despite revenue change (+2%), EBITDA varies by -23%, reducing margin by 2.7 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.6 M€, i.e. 2.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 101%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 148.67. 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 35.4x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 36 days. The company must finance 10 days of gap between collections and payments. Inventory turnover is 36 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 60 days of revenue, i.e. 21.5 M€ to permanently finance. Notable WCR improvement over the period (-25%), freeing up cash.

Based on 56 transactions of similar company sales (all years), the value of ISOCAB FRANCE is estimated at 11 497 652 € (range 6 892 890€ - 22 676 779€). With an EBITDA of 10 594 514€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.