SCHELSTRAETE-FOUGERAY : revenue, balance sheet and financial ratios

In 2024, SCHELSTRAETE-FOUGERAY achieves revenue of 435 k€. Revenue is growing positively over 9 years (CAGR: +0.8%). Slight decline of -5% vs 2023. After deducting consumption (99 k€), gross margin stands at 336 k€, i.e. a rate of 77%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 63 k€, representing 14.5% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -31%, reducing margin by 5.4 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 70 k€, i.e. 16.2% 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 48%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.9% 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 116.04. 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 1.2x. 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: 392 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 2151 days. Excellent situation: suppliers finance 1759 days of the operating cycle (retail model). Overall, WCR represents 380 days of revenue, i.e. 459 k€ to permanently finance.

Based on 193 transactions of similar company sales (all years), the value of SCHELSTRAETE-FOUGERAY is estimated at 194 587 € (range 58 962€ - 562 453€). With an EBITDA of 63 186€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.98x (in line with sector norms). 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.