OWENS CORNING FIBERGLAS FRANCE : revenue, balance sheet and financial ratios

In 2024, OWENS CORNING FIBERGLAS FRANCE achieves revenue of 95.2 M€. Revenue is growing positively over 9 years (CAGR: +1.6%). Slight decline of -9% vs 2023. After deducting consumption (26.5 M€), gross margin stands at 68.7 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 10.8 M€, representing 11.3% of revenue. Positive scissor effect: EBITDA margin improves by +6.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.3 M€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 53%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.8% 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 152.18. 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 8.8x. 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: 73 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 102 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Inventory turnover is 58 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 95 days of revenue, i.e. 25.0 M€ to permanently finance. Over 2016-2024, WCR increased by +3131%, requiring additional financing.

Based on 228 transactions of similar company sales (all years), the value of OWENS CORNING FIBERGLAS FRANCE is estimated at 12 785 613 € (range 5 331 778€ - 34 328 044€). With an EBITDA of 10 753 746€, the sector multiple of 1.5x 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.