NOVALAIR EST : revenue, balance sheet and financial ratios

In 2025, NOVALAIR EST achieves revenue of 3.5 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +12.0%. Vs 2024, growth of +11% (3.1 M€ -> 3.5 M€). After deducting consumption (408 k€), gross margin stands at 3.1 M€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 159 k€, representing 4.6% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -23%, reducing margin by 2.0 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 66 k€, i.e. 1.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 109%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 29%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 239.05. 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 10.8x. 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: 97 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 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 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 72 days of revenue, i.e. 695 k€ to permanently finance. Over 2016-2025, WCR increased by +124%, requiring additional financing.

Based on 53 transactions of similar company sales (all years), the value of NOVALAIR EST is estimated at 615 205 € (range 252 116€ - 1 028 114€). With an EBITDA of 158 727€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.35x (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.