POL ROGER ET COMPAGNIE SA : revenue, balance sheet and financial ratios

In 2024, POL ROGER ET COMPAGNIE SA achieves revenue of 51.1 M€. Revenue is growing positively over 9 years (CAGR: +4.5%). Slight decline of -9% vs 2023. After deducting consumption (23.9 M€), gross margin stands at 27.2 M€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 17.3 M€, representing 33.8% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -18%, reducing margin by 3.6 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 10.6 M€, i.e. 20.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 28%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 71%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 27.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 697.89. 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 3.7x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 101 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 165 days. Excellent situation: suppliers finance 64 days of the operating cycle (retail model). Inventory turnover is 663 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 774 days of revenue, i.e. 109.8 M€ to permanently finance. Over 2016-2024, WCR increased by +34%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of POL ROGER ET COMPAGNIE SA is estimated at 32 478 095 € (range 16 622 364€ - 81 839 343€). With an EBITDA of 17 257 825€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.