PARSONS & WHITTEMORE IMMOBILIER : revenue, balance sheet and financial ratios

In 2019, PARSONS & WHITTEMORE IMMOBILIER achieves revenue of 6.3 M€. Over the period 2016-2019, the company shows strong growth with a CAGR (compound annual growth rate) of +42.0%. Vs 2018, growth of +179% (2.3 M€ -> 6.3 M€). After deducting consumption (1.4 M€), gross margin stands at 4.9 M€, i.e. a rate of 77%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 21.8% of revenue. Positive scissor effect: EBITDA margin improves by +20.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.2 M€, i.e. 18.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 37%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 68%. 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 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 21.3% 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 2044.92. 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 3.5x. 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: 7 days. Favorable situation: supplier credit is longer than customer credit by 7 days. Inventory turnover is 279 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 297 days of revenue, i.e. 5.2 M€ to permanently finance. Over 2016-2019, WCR increased by +21%, requiring additional financing.

Based on 234 transactions of similar company sales in 2019, the value of PARSONS & WHITTEMORE IMMOBILIER is estimated at 6 603 845 € (range 2 405 933€ - 12 532 128€). With an EBITDA of 1 382 138€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.69x (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.