NEUILLY GESTION 92 : revenue, balance sheet and financial ratios

In 2023, NEUILLY GESTION 92 achieves revenue of 838 k€. Revenue is growing positively over 8 years (CAGR: +1.8%). Vs 2022, growth of +15% (730 k€ -> 838 k€). After deducting consumption (0 €), gross margin stands at 838 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 102 k€, representing 12.1% of revenue. Positive scissor effect: EBITDA margin improves by +9.0 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 731 k€, i.e. 87.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 30%. 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 76%. 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 7.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 115.1% 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 281.89. 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 646.8x. 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: 73 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 88 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 965 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 398 days of revenue, i.e. 928 k€ to permanently finance. Notable WCR improvement over the period (-94%), freeing up cash.

Based on 63 transactions of similar company sales in 2023, the value of NEUILLY GESTION 92 is estimated at 1 657 095 € (range 378 121€ - 2 599 517€). With an EBITDA of 101 832€, the sector multiple of 4.6x is applied. The price/revenue ratio is 0.24x (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.