OCEALIA : revenue, balance sheet and financial ratios

In 2025, OCEALIA achieves revenue of 532.3 M€. Revenue is growing positively over 8 years (CAGR: +1.4%). Significant drop of -15% vs 2024. After deducting consumption (423.4 M€), gross margin stands at 108.9 M€, i.e. a rate of 20%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 34.9 M€, representing 6.6% of revenue. Positive scissor effect: EBITDA margin improves by +5.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -3.9 M€ (-0.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 57%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 49%. 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 23.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 319.66. 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 15.0x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. Excellent situation: suppliers finance 54 days of the operating cycle (retail model). Inventory turnover is 106 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 185 days of revenue, i.e. 273.2 M€ to permanently finance. Over 2017-2025, WCR increased by +43%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of OCEALIA is estimated at 40 811 764 € (range 26 759 378€ - 80 145 023€). With an EBITDA of 34 926 807€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.