NCG FRANCE : revenue, balance sheet and financial ratios

In 2024, NCG FRANCE achieves revenue of 14.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.5%. Vs 2023: +7%. After deducting consumption (5.7 M€), gross margin stands at 8.4 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 950 k€, representing 6.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 348 k€, i.e. 2.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 48%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 108.58. 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 3.3x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Favorable situation: supplier credit is longer than customer credit by 2 days. Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 49 days of revenue, i.e. 1.9 M€ to permanently finance. Over 2016-2024, WCR increased by +67%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of NCG FRANCE is estimated at 1 584 041 € (range 689 555€ - 2 966 670€). With an EBITDA of 949 956€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.