JD2S PROJECT : revenue, balance sheet and financial ratios

In 2024, JD2S PROJECT achieves revenue of 1.9 M€. Revenue is growing positively over 9 years (CAGR: +1.2%). Vs 2024, growth of +32% (1.4 M€ -> 1.9 M€). After deducting consumption (891 k€), gross margin stands at 991 k€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 24 k€, representing 1.3% of revenue. Warning negative scissor effect: despite revenue change (+32%), EBITDA varies by -63%, reducing margin by 3.2 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 46 k€, i.e. 2.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 37%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 125.43. 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 35.3x. 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: 13 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 36 days. Favorable situation: supplier credit is longer than customer credit by 23 days. Inventory turnover is 28 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-9 days): operations structurally generate cash. Notable WCR improvement over the period (-148%), freeing up cash.

Based on 61 transactions of similar company sales in 2024, the value of JD2S PROJECT is estimated at 226 059 € (range 153 424€ - 326 163€). With an EBITDA of 24 325€, the sector multiple of 4.7x is applied. The price/revenue ratio is 0.22x (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.