ROCKWELL COLLINS FRANCE : revenue, balance sheet and financial ratios

In 2024, ROCKWELL COLLINS FRANCE achieves revenue of 312.1 M€. Revenue is growing positively over 9 years (CAGR: +1.8%). Vs 2023, growth of +19% (263.3 M€ -> 312.1 M€). After deducting consumption (91.0 M€), gross margin stands at 221.2 M€, i.e. a rate of 71%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 38.6 M€, representing 12.4% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 18.2 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 34%. The balance between equity and debt is satisfactory. 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 8.7% 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 207.78. 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 1.8x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 112 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 67 days. The gap of 45 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 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 165 days of revenue, i.e. 142.9 M€ to permanently finance. Over 2016-2024, WCR increased by +56%, requiring additional financing.

Based on 197 transactions of similar company sales (all years), the value of ROCKWELL COLLINS FRANCE is estimated at 80 707 787 € (range 31 361 653€ - 183 656 211€). With an EBITDA of 38 612 530€, 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.