PARTENAIRE HABITAT IMMOBILIERS : revenue, balance sheet and financial ratios

In 2020, PARTENAIRE HABITAT IMMOBILIERS achieves revenue of 86 k€. Over the period 2017-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +65.6%. Slight decline of -7% vs 2019. After deducting consumption (0 €), gross margin stands at 86 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 63 k€, representing 72.5% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -10%, reducing margin by 2.3 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 10 k€, i.e. 11.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2297%. 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 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 15.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 56.9% 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 668.11. 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 18.8x. 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: 110 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. The gap of 55 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 126 days of revenue, i.e. 30 k€ to permanently finance. Over 2017-2020, WCR increased by +843%, requiring additional financing.

Based on 113 transactions of similar company sales (all years), the value of PARTENAIRE HABITAT IMMOBILIERS is estimated at 121 792 € (range 46 622€ - 184 621€). With an EBITDA of 62 541€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.