OCI OUEST : revenue, balance sheet and financial ratios

In 2024, OCI OUEST achieves revenue of 56.3 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.8%. Slight decline of -4% vs 2023. After deducting consumption (32.5 M€), gross margin stands at 23.8 M€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.7 M€, representing 10.1% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.6 M€, i.e. 6.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 44%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.6% 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 242.92. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 71 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. The company must finance 24 days of gap between collections and payments. Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 110 days of revenue, i.e. 17.3 M€ to permanently finance. Over 2017-2024, WCR increased by +563%, requiring additional financing.

Based on 61 transactions of similar company sales (all years), the value of OCI OUEST is estimated at 15 180 060 € (range 3 786 175€ - 27 542 981€). With an EBITDA of 5 660 301€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.33x (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.