RESEAULUTION : revenue, balance sheet and financial ratios

In 2024, RESEAULUTION achieves revenue of 2.4 M€. Activity remains stable over the period (CAGR: -0.2%). Slight decline of -3% vs 2023. After deducting consumption (3 k€), gross margin stands at 2.4 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 14 k€, representing 0.6% of revenue. Positive scissor effect: EBITDA margin improves by +8.8 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 57 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 45%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory.

The liquidity ratio (= Current assets / Current liabilities) stands at 213.77. 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 22.9x. 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: 92 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 58 days. The gap of 34 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 61 days of revenue, i.e. 414 k€ to permanently finance. Over 2017-2024, WCR increased by +92%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of RESEAULUTION is estimated at 591 940 € (range 316 499€ - 780 837€). With an EBITDA of 14 392€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.