JF DEVELOPPEMENT : revenue, balance sheet and financial ratios

In 2024, JF DEVELOPPEMENT achieves revenue of 476 k€. Revenue is growing positively over 9 years (CAGR: +3.2%). Significant drop of -38% vs 2023. After deducting consumption (0 €), gross margin stands at 476 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5 k€, representing 1.1% of revenue. Warning negative scissor effect: despite revenue change (-38%), EBITDA varies by -97%, reducing margin by 20.9 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 461 k€, i.e. 96.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 75%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 92.5% 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 217.16. 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 216.2x. 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: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 138 days. Excellent situation: suppliers finance 95 days of the operating cycle (retail model). WCR is negative (-422 days): operations structurally generate cash. Notable WCR improvement over the period (-7311%), freeing up cash.

Based on 54 transactions of similar company sales in 2024, the value of JF DEVELOPPEMENT is estimated at 231 495 € (range 140 279€ - 810 434€). With an EBITDA of 5 340€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.59x (in line with sector norms). 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.