KCBA MASSON HOLDING : revenue, balance sheet and financial ratios

In 2024, KCBA MASSON HOLDING achieves revenue of 180 k€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +13.6%. Vs 2023, growth of +20% (150 k€ -> 180 k€). After deducting consumption (0 €), gross margin stands at 180 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 42 k€, representing 23.3% of revenue. Warning negative scissor effect: despite revenue change (+20%), EBITDA varies by -19%, reducing margin by 11.4 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 28 k€, i.e. 15.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 93%. Debt level is high: negotiating margin with banks is reduced. 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 7.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 15.6% 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 1506.11. 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 22.4x. 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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 3 days. The gap of 57 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 4 days of revenue, i.e. 2 k€ to permanently finance. Notable WCR improvement over the period (-95%), freeing up cash.

Based on 173 transactions of similar company sales (all years), the value of KCBA MASSON HOLDING is estimated at 112 285 € (range 35 267€ - 239 105€). With an EBITDA of 41 885€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.