SOC RENAUDAT CENTRE CONSTRUCTIONS : revenue, balance sheet and financial ratios

In 2024, SOC RENAUDAT CENTRE CONSTRUCTIONS achieves revenue of 20.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.9%. Significant drop of -27% vs 2023. After deducting consumption (2.7 M€), gross margin stands at 18.1 M€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.8 M€, representing 18.1% of revenue. Positive scissor effect: EBITDA margin improves by +3.7 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.2 M€, i.e. 10.7% 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.4% 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 171.15. 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 0.4x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 59 days. Favorable situation: supplier credit is longer than customer credit by 6 days. Inventory turnover is 153 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 65 days of revenue, i.e. 3.7 M€ to permanently finance. Over 2016-2024, WCR increased by +42%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of SOC RENAUDAT CENTRE CONSTRUCTIONS is estimated at 3 598 983 € (range 2 291 505€ - 8 627 081€). With an EBITDA of 3 751 813€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.