PACA ASCENSEURS SERVICES : revenue, balance sheet and financial ratios

In 2024, PACA ASCENSEURS SERVICES achieves revenue of 30.8 M€. Revenue is growing positively over 9 years (CAGR: +2.5%). Vs 2023: +2%. After deducting consumption (9.6 M€), gross margin stands at 21.2 M€, i.e. a rate of 69%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.6 M€, representing 5.1% of revenue. Positive scissor effect: EBITDA margin improves by +3.1 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 49 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 673%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

The liquidity ratio (= Current assets / Current liabilities) stands at 199.99. 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 7.4x. 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: 139 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The gap of 100 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 16 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 135 days of revenue, i.e. 11.6 M€ to permanently finance. Over 2016-2024, WCR increased by +128%, requiring additional financing.

Based on 58 transactions of similar company sales (all years), the value of PACA ASCENSEURS SERVICES is estimated at 2 881 797 € (range 2 009 408€ - 5 110 425€). With an EBITDA of 1 561 850€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.20x (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.