OAI GROUP : revenue, balance sheet and financial ratios

In 2024, OAI GROUP achieves revenue of 774 k€. Revenue is declining over the period 2016-2024 (CAGR: -10.8%). Significant drop of -46% vs 2023. After deducting consumption (181 k€), gross margin stands at 593 k€, i.e. a rate of 77%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 86 k€, representing 11.1% of revenue. Warning negative scissor effect: despite revenue change (-46%), EBITDA varies by -72%, reducing margin by 10.2 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 42 k€, i.e. 5.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 37%. 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 7.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.6% 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 452.26. 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 16.6x. 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: 195 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 135 days. The gap of 60 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 73 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 338 days of revenue, i.e. 727 k€ to permanently finance. Over 2016-2024, WCR increased by +24%, requiring additional financing.

Based on 117 transactions of similar company sales in 2024, the value of OAI GROUP is estimated at 314 377 € (range 197 320€ - 568 742€). With an EBITDA of 86 019€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (in line with sector norms). 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.