SAINT-GOBAIN PLACO : revenue, balance sheet and financial ratios

In 2024, SAINT-GOBAIN PLACO achieves revenue of 59.8 M€. Revenue is growing positively over 9 years (CAGR: +0.6%). Slight decline of -1% vs 2023. After deducting consumption (0 €), gross margin stands at 59.8 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 15.5 M€, representing 25.9% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -24%, reducing margin by 7.6 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 51.6 M€, i.e. 86.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 180%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 9.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 98.6% 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 269.43. 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 108.9x. 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: 77 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 131 days. Excellent situation: suppliers finance 54 days of the operating cycle (retail model). Overall, WCR represents 273 days of revenue, i.e. 45.4 M€ to permanently finance.

Based on 103 transactions of similar company sales in 2024, the value of SAINT-GOBAIN PLACO is estimated at 143 999 545 € (range 43 666 159€ - 342 668 973€). With an EBITDA of 15 510 585€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.