PGD BATIMENT : revenue, balance sheet and financial ratios

In 2024, PGD BATIMENT achieves revenue of 41.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.9%. Vs 2023: +9%. After deducting consumption (17.3 M€), gross margin stands at 23.9 M€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 3.0% of revenue. Positive scissor effect: EBITDA margin improves by +3.6 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 540 k€, i.e. 1.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 146%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 1.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 133.12. 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 17.6x. 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: 104 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 63 days. The gap of 41 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 27 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 169 days of revenue, i.e. 19.3 M€ to permanently finance. Over 2016-2024, WCR increased by +230%, requiring additional financing.

Based on 113 transactions of similar company sales (all years), the value of PGD BATIMENT is estimated at 3 908 141 € (range 1 896 974€ - 9 352 820€). With an EBITDA of 1 249 405€, 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.