SOC DE TRANSPORT DES MASCAREIGNES : revenue, balance sheet and financial ratios

In 2024, SOC DE TRANSPORT DES MASCAREIGNES achieves revenue of 6.0 M€. Revenue is growing positively over 8 years (CAGR: +2.8%). Slight decline of -1% vs 2023. After deducting consumption (631 k€), gross margin stands at 5.4 M€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 275 k€, representing 4.6% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -60%, reducing margin by 6.8 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -54 k€ (-0.9% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 29%. 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 63%. 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 3.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.4% 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 228.94. 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 28.6x. 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: 81 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 109 days. Favorable situation: supplier credit is longer than customer credit by 28 days. Inventory turnover is 16 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 103 days of revenue, i.e. 1.7 M€ to permanently finance. Notable WCR improvement over the period (-28%), freeing up cash.

Based on 71 transactions of similar company sales in 2024, the value of SOC DE TRANSPORT DES MASCAREIGNES is estimated at 667 046 € (range 350 178€ - 1 466 944€). With an EBITDA of 274 918€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.23x (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.