PARFUDIS : revenue, balance sheet and financial ratios

In 2025, PARFUDIS achieves revenue of 1.3 M€. Revenue is growing positively over 9 years (CAGR: +3.4%). Slight decline of -4% vs 2024. After deducting consumption (731 k€), gross margin stands at 525 k€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 58 k€, representing 4.6% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -59%, reducing margin by 6.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -3 k€ (-0.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 155%. 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 324.49. 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 14.7x. 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: 20 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 104 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 123 days of revenue, i.e. 429 k€ to permanently finance. Notable WCR improvement over the period (-30%), freeing up cash.

Based on 132 transactions of similar company sales (all years), the value of PARFUDIS is estimated at 279 967 € (range 159 968€ - 532 416€). With an EBITDA of 57 933€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.35x (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.