PRESTIBAT : revenue, balance sheet and financial ratios

In 2024, PRESTIBAT achieves revenue of 17.4 M€. Revenue is growing positively over 9 years (CAGR: +2.1%). Vs 2023, growth of +20% (14.5 M€ -> 17.4 M€). After deducting consumption (5.1 M€), gross margin stands at 12.2 M€, i.e. a rate of 70%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 8.0% of revenue. Warning negative scissor effect: despite revenue change (+20%), EBITDA varies by -10%, reducing margin by 2.6 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 877 k€, i.e. 5.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 42%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.5% 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 184.21. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 85 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. The gap of 38 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 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 76 days of revenue, i.e. 3.6 M€ to permanently finance.

Based on 113 transactions of similar company sales (all years), the value of PRESTIBAT is estimated at 3 532 366 € (range 1 497 523€ - 7 141 262€). With an EBITDA of 1 383 686€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.