KERTRUCKS LOCATION ET SERVICES : revenue, balance sheet and financial ratios

In 2024, KERTRUCKS LOCATION ET SERVICES achieves revenue of 75.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.4%. Vs 2023: +3%. After deducting consumption (46 k€), gross margin stands at 75.4 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 11.8 M€, representing 15.7% of revenue. Warning negative scissor effect: despite revenue change (+3%), EBITDA varies by -9%, reducing margin by 2.1 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 2.2 M€, i.e. 3.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 289%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 20%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 21.4% 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 263.48. 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 6.4x. 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: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. The company must finance 14 days of gap between collections and payments. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 46 days of revenue, i.e. 9.7 M€ to permanently finance. Over 2016-2024, WCR increased by +358%, requiring additional financing.

Based on 292 transactions of similar company sales (all years), the value of KERTRUCKS LOCATION ET SERVICES is estimated at 105 928 305 € (range 23 568 224€ - 178 946 624€). With an EBITDA of 11 812 413€, the sector multiple of 9.5x is applied. The price/revenue ratio is 2.04x (premium 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.