KEOLIS PAYS NORMANDS : revenue, balance sheet and financial ratios

KEOLIS PAYS NORMANDS is a French company founded 24 years ago, specialized in the sector Transports urbains et suburbains de voyageurs. Based in MONDEVILLE (14120), this company of category GE shows in 2024 a revenue of 26.2 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - KEOLIS PAYS NORMANDS (SIREN 441288800)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 26 211 943 € 12 323 192 € 8 215 871 € 8 061 593 € 7 397 032 € 8 082 350 € 7 505 174 € 3 387 143 € 3 185 833 €
Net income -1 722 557 € -429 031 € 384 096 € 560 409 € 450 605 € 374 119 € 409 025 € 103 369 € 131 720 €
EBITDA -1 732 810 € -1 008 716 € 444 939 € 803 426 € 607 713 € 420 324 € 375 560 € 46 810 € 162 532 €
Net margin -6.6% -3.5% 4.7% 7.0% 6.1% 4.6% 5.4% 3.1% 4.1%

Revenue and income statement

In 2024, KEOLIS PAYS NORMANDS achieves revenue of 26.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +30.1%. Vs 2023, growth of +113% (12.3 M€ -> 26.2 M€). After deducting consumption (3.5 M€), gross margin stands at 22.8 M€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -1.7 M€, representing -6.6% of revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -1.7 M€ (-6.6% of revenue), which will impact equity.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

26 211 943 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

22 755 825 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

-1 732 810 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-1 714 580 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-1 722 557 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-6.5%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at -21%. 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 -1%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-21.411%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

-1.09%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-6.82%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-0.008

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

49.3%

Solvency indicators evolution
KEOLIS PAYS NORMANDS

Sector positioning

Debt ratio
-21.41 2024
2022
2023
2024
Q1: 0.0
Med: 0.28
Q3: 27.58
Excellent

In 2024, the debt ratio of KEOLIS PAYS NORMANDS (-21.41) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-1.09% 2024
2022
2023
2024
Q1: 6.39%
Med: 17.87%
Q3: 42.0%
Average -51 pts over 3 years

In 2024, the financial autonomy of KEOLIS PAYS NORMANDS (-1.1%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-0.01 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.09 years
Excellent -26 pts over 3 years

In 2024, the repayment capacity of KEOLIS PAYS NORMANDS (-0.01) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 74.15. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

74.15

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

-1.54

Liquidity indicators evolution
KEOLIS PAYS NORMANDS

Sector positioning

Liquidity ratio
74.15 2024
2022
2023
2024
Q1: 100.43
Med: 129.12
Q3: 209.11
Watch -47 pts over 3 years

In 2024, the liquidity ratio of KEOLIS PAYS NORMANDS (74.15) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
-1.54x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 1.6x
Average

In 2024, the interest coverage of KEOLIS PAYS NORMANDS (-1.5x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Favorable situation: supplier credit is longer than customer credit by 9 days. Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 13 days of revenue, i.e. 957 k€ to permanently finance.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

957 260 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

40 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

49 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

4 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

13 j

WCR and payment terms evolution
KEOLIS PAYS NORMANDS

Positioning of KEOLIS PAYS NORMANDS in its sector

Comparison with sector Transports urbains et suburbains de voyageurs

Valuation estimate

Based on 206 transactions of similar company sales (all years), the value of KEOLIS PAYS NORMANDS is estimated at 12 631 658 € (range 5 037 468€ - 22 448 565€). The price/revenue ratio is 0.48x (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.

Estimated enterprise value 2024
206 transactions
5037k€ 12631k€ 22448k€
12 631 658 € Range: 5 037 468€ - 22 448 565€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation method used

Revenue Multiple
26 211 943 € × 0.48x = 12 631 658 €
Range: 5 037 469€ - 22 448 566€

Only this financial indicator is available for this company.

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 206 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Transports urbains et suburbains de voyageurs)

Compare KEOLIS PAYS NORMANDS with other companies in the same sector:

Voir toutes les statistiques du secteur Transports urbains et suburbains de voyageurs

Frequently asked questions about KEOLIS PAYS NORMANDS

What is the revenue of KEOLIS PAYS NORMANDS ?

The revenue of KEOLIS PAYS NORMANDS in 2024 is 26.2 M€.

Is KEOLIS PAYS NORMANDS profitable?

KEOLIS PAYS NORMANDS recorded a net loss in 2024.

Where is the headquarters of KEOLIS PAYS NORMANDS ?

The headquarters of KEOLIS PAYS NORMANDS is located in MONDEVILLE (14120), in the department Calvados.

Where to find the tax return of KEOLIS PAYS NORMANDS ?

The tax return of KEOLIS PAYS NORMANDS is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does KEOLIS PAYS NORMANDS operate?

KEOLIS PAYS NORMANDS operates in the sector Transports urbains et suburbains de voyageurs (NAF code 49.31Z). See the 'Sector positioning' section above to compare the company with its competitors.