PRESSES UNIVERSITAIRES DE GRENOBLE : revenue, balance sheet and financial ratios

In 2024, PRESSES UNIVERSITAIRES DE GRENOBLE achieves revenue of 634 k€. Activity remains stable over the period (CAGR: -4.7%). Significant drop of -14% vs 2023. After deducting consumption (897 €), gross margin stands at 633 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 117 k€, representing 18.5% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -2 k€ (-0.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 174%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.9% 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 187.30. 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 8.3x. 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: 203 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 311 days. Excellent situation: suppliers finance 108 days of the operating cycle (retail model). Inventory turnover is 229 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 187 days of revenue, i.e. 329 k€ to permanently finance. Notable WCR improvement over the period (-27%), freeing up cash.

Based on 104 transactions of similar company sales (all years), the value of PRESSES UNIVERSITAIRES DE GRENOBLE is estimated at 142 044 € (range 71 940€ - 453 791€). With an EBITDA of 117 066€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.