RIVOLIER PERE ET FS ARMURERIE : revenue, balance sheet and financial ratios

In 2024, RIVOLIER PERE ET FS ARMURERIE achieves revenue of 84.4 M€. Revenue is growing positively over 8 years (CAGR: +1.7%). Vs 2023: +10%. After deducting consumption (58.2 M€), gross margin stands at 26.2 M€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9.3 M€, representing 11.0% of revenue. Positive scissor effect: EBITDA margin improves by +2.0 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7.3 M€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 60%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.0% 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 252.54. 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 5.8x. 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: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 90 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 166 days of revenue, i.e. 38.8 M€ to permanently finance. Over 2016-2024, WCR increased by +93%, requiring additional financing.

Based on 145 transactions of similar company sales (all years), the value of RIVOLIER PERE ET FS ARMURERIE is estimated at 21 746 078 € (range 8 090 576€ - 54 930 772€). With an EBITDA of 9 273 190€, the sector multiple of 2.6x 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.