SIREN : 492338181
PIGEON SAN is a French company founded 19 years ago, specialized in the sector Commerce de voitures et de véhicules automobiles légers. Based in BRUGES (33520), this company of category ETI shows in 2024 a revenue of 29.5 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.
Data updated on 2026-04-11
Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy
| Indicator | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 29 489 408 € | 34 984 673 € | 26 518 845 € | 28 123 425 € | 24 430 686 € | 19 788 418 € | 27 512 758 € | 32 124 156 € | 34 762 093 € |
| Net income | -9 537 € | 281 171 € | 280 458 € | 316 762 € | 102 340 € | 74 606 € | -31 873 € | 203 457 € | 279 612 € |
| EBITDA | 60 412 € | 690 828 € | 588 103 € | 365 286 € | 63 454 € | 236 849 € | 21 579 € | 384 728 € | 550 856 € |
| Net margin | -0.0% | 0.8% | 1.1% | 1.1% | 0.4% | 0.4% | -0.1% | 0.6% | 0.8% |
In 2024, PIGEON SAN achieves revenue of 29.5 M€. Activity remains stable over the period (CAGR: -2.3%). Significant drop of -16% vs 2023. After deducting consumption (24.3 M€), gross margin stands at 5.2 M€, i.e. a rate of 18%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 60 k€, representing 0.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -10 k€ (-0.0% of revenue), which will impact equity.
29 489 408 €
5 214 565 €
60 412 €
62 019 €
-9 537 €
0.2%
The debt ratio (= Financial debt / Equity x 100) stands at 257%. 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 10%. Low autonomy: the company heavily depends on external financing (banks, suppliers).
257.464%
10.385%
-0.059%
-58.879
32.0%
In 2024, the debt ratio of PIGEON SAN (257.46) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.
In 2024, the financial autonomy of PIGEON SAN (10.4%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2024, the repayment capacity of PIGEON SAN (-58.88) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.
The liquidity ratio (= Current assets / Current liabilities) stands at 114.89. 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 116.1x. Operating income very largely covers interest expenses: high safety margin.
114.892
116.06
In 2024, the liquidity ratio of PIGEON SAN (114.89) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.
In 2024, the interest coverage of PIGEON SAN (116.1x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 98 days. Excellent situation: suppliers finance 82 days of the operating cycle (retail model). Inventory turnover is 123 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 150 days of revenue, i.e. 12.3 M€ to permanently finance. Over 2017-2024, WCR increased by +99%, requiring additional financing.
12 325 098 €
16 j
98 j
123 j
150 j
Based on 148 transactions of similar company sales in 2024, the value of PIGEON SAN is estimated at 1 834 728 € (range 832 794€ - 3 220 601€). With an EBITDA of 60 412€, the sector multiple of 1.6x 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.
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This estimate is based on the analysis of 148 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare PIGEON SAN with other companies in the same sector:
Voir toutes les statistiques du secteur Commerce de voitures et de véhicules automobiles légers
The revenue of PIGEON SAN in 2024 is 29.5 M€.
PIGEON SAN recorded a net loss in 2024.
The headquarters of PIGEON SAN is located in BRUGES (33520), in the department Gironde.
The tax return of PIGEON SAN is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).
PIGEON SAN operates in the sector Commerce de voitures et de véhicules automobiles légers (NAF code 45.11Z). See the 'Sector positioning' section above to compare the company with its competitors.