SAS MOREAU TP : revenue, balance sheet and financial ratios

In 2025, SAS MOREAU TP achieves revenue of 1.7 M€. Over the period 2018-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +8.4%. Vs 2024, growth of +21% (1.4 M€ -> 1.7 M€). After deducting consumption (174 k€), gross margin stands at 1.5 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 336 k€, representing 19.9% of revenue. Warning negative scissor effect: despite revenue change (+21%), EBITDA varies by -3%, reducing margin by 4.8 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 87 k€, i.e. 5.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 66%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 37%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 17.5% 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 137.19. 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 3.0x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 78 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 113 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 89 days of revenue, i.e. 418 k€ to permanently finance. Over 2018-2025, WCR increased by +144%, requiring additional financing.

Based on 120 transactions of similar company sales (all years), the value of SAS MOREAU TP is estimated at 405 723 € (range 132 877€ - 1 029 318€). With an EBITDA of 335 955€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.22x (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.