PHASE AUTOMATION : revenue, balance sheet and financial ratios

In 2025, PHASE AUTOMATION achieves revenue of 2.3 M€. Revenue is growing positively over 9 years (CAGR: +4.3%). Vs 2024: +2%. After deducting consumption (1.5 M€), gross margin stands at 795 k€, i.e. a rate of 35%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 254 k€, representing 11.2% of revenue. Positive scissor effect: EBITDA margin improves by +3.9 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 193 k€, i.e. 8.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 115%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 552.98. 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 8.9x. 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: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. The gap of 33 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 55 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 46 days of revenue, i.e. 287 k€ to permanently finance. Notable WCR improvement over the period (-42%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (33 transactions). This range of 88 191€ to 758 451€ is provided for information purposes only and requires in-depth analysis to be confirmed.