POMPES FUNEBRES DU BASSIN DE THAU : revenue, balance sheet and financial ratios

In 2024, POMPES FUNEBRES DU BASSIN DE THAU achieves revenue of 687 k€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.1%. Slight decline of -5% vs 2023. After deducting consumption (152 k€), gross margin stands at 534 k€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 41 k€, representing 6.0% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -30%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 10 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 336.50. 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 5.0x. 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: 149 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 122 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 38 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 153 days of revenue, i.e. 293 k€ to permanently finance. Over 2015-2024, WCR increased by +95%, requiring additional financing.

Based on 108 transactions of similar company sales (all years), the value of POMPES FUNEBRES DU BASSIN DE THAU is estimated at 131 068 € (range 50 607€ - 251 870€). With an EBITDA of 41 373€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.36x (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.