NEXITY IR PROGRAMMES PAYS BASQUE : revenue, balance sheet and financial ratios

In 2024, NEXITY IR PROGRAMMES PAYS BASQUE achieves revenue of 47.4 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +275.0%. Significant drop of -25% vs 2023. After deducting consumption (0 €), gross margin stands at 47.4 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 3.7 M€, representing 7.8% of revenue. Warning negative scissor effect: despite revenue change (-25%), EBITDA varies by -48%, reducing margin by 3.4 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 3.3 M€, i.e. 6.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 124%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.1% 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 620.03. 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 5.0x. 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: 276 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. The gap of 221 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 390 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 229 days of revenue, i.e. 30.2 M€ to permanently finance.

Based on 80 transactions of similar company sales (all years), the value of NEXITY IR PROGRAMMES PAYS BASQUE is estimated at 7 366 350 € (range 2 672 827€ - 19 644 325€). With an EBITDA of 3 697 977€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.28x (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.