RECTIMO AVIATION : revenue, balance sheet and financial ratios

In 2024, RECTIMO AVIATION achieves revenue of 5.7 M€. Revenue is growing positively over 9 years (CAGR: +3.1%). Vs 2024, growth of +48% (3.8 M€ -> 5.7 M€). After deducting consumption (2.8 M€), gross margin stands at 2.9 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 78 k€, representing 1.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 127 k€, i.e. 2.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 50%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

The liquidity ratio (= Current assets / Current liabilities) stands at 357.74. 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 24.6x. 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: 38 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Inventory turnover is 155 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 112 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2017-2024, WCR increased by +35%, requiring additional financing.

Based on 197 transactions of similar company sales (all years), the value of RECTIMO AVIATION is estimated at 630 536 € (range 295 234€ - 1 235 505€). With an EBITDA of 77 923€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.28x (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.