KOMPAN : revenue, balance sheet and financial ratios

In 2024, KOMPAN achieves revenue of 38.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.9%. Vs 2023: +1%. After deducting consumption (21.5 M€), gross margin stands at 17.0 M€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 2.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 413 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 117%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 1.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 220.50. 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 16.1x. 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 11 days. The gap of 47 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 48 days of revenue, i.e. 5.1 M€ to permanently finance. Over 2016-2024, WCR increased by +22%, requiring additional financing.

Based on 145 transactions of similar company sales (all years), the value of KOMPAN is estimated at 3 952 827 € (range 1 833 861€ - 10 251 395€). With an EBITDA of 1 124 228€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.