R CHEVRIER TRANSPORTS : revenue, balance sheet and financial ratios

In 2023, R CHEVRIER TRANSPORTS achieves revenue of 1.4 M€. Revenue is growing positively over 7 years (CAGR: +0.4%). Slight decline of -8% vs 2022. After deducting consumption (236 k€), gross margin stands at 1.1 M€, i.e. a rate of 83%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 144 k€, representing 10.6% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -38%, reducing margin by 5.1 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 112 k€, i.e. 8.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 37%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 58%. 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 2.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. 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 243.41. 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 5.7x. 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: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. Favorable situation: supplier credit is longer than customer credit by 3 days. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 119 days of revenue, i.e. 448 k€ to permanently finance. Over 2017-2023, WCR increased by +107%, requiring additional financing.

Based on 53 transactions of similar company sales in 2023, the value of R CHEVRIER TRANSPORTS is estimated at 280 754 € (range 112 869€ - 858 296€). With an EBITDA of 143 502€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.19x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.