NOUVELLE CARROSSERIE MOSELLANE : revenue, balance sheet and financial ratios

In 2023, NOUVELLE CARROSSERIE MOSELLANE achieves revenue of 788 k€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +6.3%. Slight decline of -2% vs 2022. After deducting consumption (289 k€), gross margin stands at 499 k€, i.e. a rate of 63%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 33 k€, representing 4.2% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -64%, reducing margin by 7.0 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 6 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 52%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 47%. 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 3.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 308.03. 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 2.3x. 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: 80 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. The gap of 46 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 17 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 96 days of revenue, i.e. 210 k€ to permanently finance. Over 2016-2023, WCR increased by +124%, requiring additional financing.

Based on 149 transactions of similar company sales in 2023, the value of NOUVELLE CARROSSERIE MOSELLANE is estimated at 54 276 € (range 22 824€ - 134 116€). With an EBITDA of 32 753€, the sector multiple of 1.3x 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.