RESEAU FERMETURES : revenue, balance sheet and financial ratios

In 2024, RESEAU FERMETURES achieves revenue of 7.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +27.6%. Vs 2022, growth of +69% (4.3 M€ -> 7.2 M€). After deducting consumption (530 k€), gross margin stands at 6.7 M€, i.e. a rate of 93%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.1 M€, representing 42.8% of revenue. Warning negative scissor effect: despite revenue change (+69%), EBITDA varies by +57%, reducing margin by 3.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.1 M€, i.e. 28.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 78%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 33.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 589.12. 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 0.2x. 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: 145 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The gap of 106 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 190 days of revenue, i.e. 3.8 M€ to permanently finance. Over 2016-2024, WCR increased by +27712%, requiring additional financing.

Based on 51 transactions of similar company sales in 2024, the value of RESEAU FERMETURES is estimated at 4 105 551 € (range 2 039 307€ - 6 788 309€). With an EBITDA of 3 079 559€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.14x (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.