NORMANVER GLASS : revenue, balance sheet and financial ratios

In 2025, NORMANVER GLASS achieves revenue of 5.2 M€. Revenue is growing positively over 9 years (CAGR: +0.8%). Significant drop of -23% vs 2024. After deducting consumption (2.1 M€), gross margin stands at 3.1 M€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 323 k€, representing 6.2% of revenue. Warning negative scissor effect: despite revenue change (-23%), EBITDA varies by -49%, reducing margin by 3.1 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 135 k€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 60%. 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 3.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 4.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 352.06. 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 10.7x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. The company must finance 29 days of gap between collections and payments. Inventory turnover is 35 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 73 days of revenue, i.e. 1.1 M€ to permanently finance. Notable WCR improvement over the period (-21%), freeing up cash.

Based on 228 transactions of similar company sales (all years), the value of NORMANVER GLASS is estimated at 496 592 € (range 228 014€ - 1 351 860€). With an EBITDA of 322 566€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.