RANGUEIL DRIVE : revenue, balance sheet and financial ratios

In 2024, RANGUEIL DRIVE achieves revenue of 4.3 M€. Activity remains stable over the period (CAGR: -1.7%). Significant drop of -17% vs 2023. After deducting consumption (1.0 M€), gross margin stands at 3.2 M€, i.e. a rate of 76%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 591 k€, representing 13.9% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -29%, reducing margin by 2.4 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 34 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 324%. 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 18%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.0% 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 120.99. 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 0.9x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 23 days. Favorable situation: supplier credit is longer than customer credit by 23 days. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 9 days of revenue, i.e. 110 k€ to permanently finance. Over 2016-2024, WCR increased by +112%, requiring additional financing.

Based on 698 transactions of similar company sales in 2024, the value of RANGUEIL DRIVE is estimated at 2 371 378 € (range 1 232 881€ - 4 316 753€). With an EBITDA of 591 120€, the sector multiple of 5.4x is applied. The price/revenue ratio is 0.57x (in line with sector norms). 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.