NEDEY BELFORT : revenue, balance sheet and financial ratios

In 2024, NEDEY BELFORT achieves revenue of 27.4 M€. Revenue is growing positively over 8 years (CAGR: +1.3%). Significant drop of -28% vs 2023. After deducting consumption (19.1 M€), gross margin stands at 8.3 M€, i.e. a rate of 30%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 284 k€, representing 1.0% of revenue. Warning negative scissor effect: despite revenue change (-28%), EBITDA varies by -80%, reducing margin by 2.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 123 k€, i.e. 0.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 35%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 31%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 147.59. 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 46.4x. 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: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 117 days. Excellent situation: suppliers finance 86 days of the operating cycle (retail model). Inventory turnover is 67 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 174 days of revenue, i.e. 13.2 M€ to permanently finance. Over 2016-2024, WCR increased by +50%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of NEDEY BELFORT is estimated at 1 610 575 € (range 721 479€ - 2 869 184€). With an EBITDA of 284 364€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.