PARTHENA CONSULTANT : revenue, balance sheet and financial ratios

In 2025, PARTHENA CONSULTANT achieves revenue of 49.4 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +20.2%. Vs 2024, growth of +60% (30.9 M€ -> 49.4 M€). After deducting consumption (967 k€), gross margin stands at 48.4 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.2 M€, representing 4.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 917 k€, i.e. 1.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 217%. 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). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 170.97. 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 28.4x. 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: 106 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 69 days. The gap of 37 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-20 days): operations structurally generate cash. Notable WCR improvement over the period (-521%), freeing up cash.

Based on 215 transactions of similar company sales (all years), the value of PARTHENA CONSULTANT is estimated at 3 730 935 € (range 1 801 478€ - 9 918 364€). With an EBITDA of 2 214 283€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.16x (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.