PRIVE SA : revenue, balance sheet and financial ratios

In 2024, PRIVE SA achieves revenue of 24.7 M€. Activity remains stable over the period (CAGR: -2.3%). Significant drop of -11% vs 2021. After deducting consumption (11.6 M€), gross margin stands at 13.1 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 919 k€, representing 3.7% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -72%, reducing margin by 8.1 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 304 k€, i.e. 1.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 85%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 5.6% 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 397.60. 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 7.2x. 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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 38 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 114 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 66 days of revenue, i.e. 4.5 M€ to permanently finance. Notable WCR improvement over the period (-38%), freeing up cash.

Based on 276 transactions of similar company sales (all years), the value of PRIVE SA is estimated at 2 340 705 € (range 1 056 929€ - 5 194 191€). With an EBITDA of 919 375€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.