OXALYS : revenue, balance sheet and financial ratios

In 2024, OXALYS achieves revenue of 3.0 M€. Revenue is growing positively over 9 years (CAGR: +3.8%). Vs 2023, growth of +13% (2.6 M€ -> 3.0 M€). After deducting consumption (19 k€), gross margin stands at 3.0 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 45.7% of revenue. Warning negative scissor effect: despite revenue change (+13%), EBITDA varies by +3%, reducing margin by 4.5 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 757 k€, i.e. 25.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 73%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 47%. 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 3.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 35.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 48.18. 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 4.4x. Financial charges are adequately covered by operations.

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: 234 days. Excellent situation: suppliers finance 234 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-28 days): operations structurally generate cash. Over 2016-2024, WCR increased by +20%, requiring additional financing.

Based on 261 transactions of similar company sales (all years), the value of OXALYS is estimated at 5 196 533 € (range 2 877 978€ - 10 122 245€). With an EBITDA of 1 360 307€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (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.