PLASTIQUES DES NEIGES : revenue, balance sheet and financial ratios

In 2024, PLASTIQUES DES NEIGES achieves revenue of 6.9 M€. Revenue is growing positively over 9 years (CAGR: +4.2%). Slight decline of -6% vs 2023. After deducting consumption (3.4 M€), gross margin stands at 3.5 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 82 k€, representing 1.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 16 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 91%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 159.99. 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 23.0x. 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: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 82 days. Excellent situation: suppliers finance 46 days of the operating cycle (retail model). Inventory turnover is 42 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 128 days of revenue, i.e. 2.5 M€ to permanently finance. Over 2016-2024, WCR increased by +50%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of PLASTIQUES DES NEIGES is estimated at 479 837 € (range 224 390€ - 704 878€). With an EBITDA of 81 602€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.