QUERCY ENROBES : revenue, balance sheet and financial ratios

In 2024, QUERCY ENROBES achieves revenue of 2.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.6%. Vs 2023, growth of +12% (2.1 M€ -> 2.4 M€). After deducting consumption (1.5 M€), gross margin stands at 833 k€, i.e. a rate of 35%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 308 k€, representing 13.1% of revenue. Warning negative scissor effect: despite revenue change (+12%), EBITDA varies by -3%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 139 k€, i.e. 5.9% 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 8.2% 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 96.03. 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 9.2x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. The company must finance 18 days of gap between collections and payments. Inventory turnover is 62 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 36 days of revenue, i.e. 233 k€ to permanently finance. Over 2016-2024, WCR increased by +181%, requiring additional financing.

Based on 228 transactions of similar company sales (all years), the value of QUERCY ENROBES is estimated at 378 310 € (range 149 890€ - 1 003 392€). With an EBITDA of 308 312€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.