SARL FORTIN : revenue, balance sheet and financial ratios

In 2024, SARL FORTIN achieves revenue of 559 k€. Revenue is growing positively over 9 years (CAGR: +2.3%). Slight decline of -2% vs 2023. After deducting consumption (317 k€), gross margin stands at 242 k€, i.e. a rate of 43%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2 k€, representing 0.3% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -89%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -10 k€ (-1.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 164%. 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 56.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 127.62. 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 141.4x. 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: 70 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. The gap of 35 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 22 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 54 days of revenue, i.e. 84 k€ to permanently finance. Over 2016-2024, WCR increased by +44%, requiring additional financing.

Based on 51 transactions of similar company sales in 2024, the value of SARL FORTIN is estimated at 31 517 € (range 16 491€ - 37 480€). With an EBITDA of 1 548€, 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.