SOCIETE DE TRAVAUX PUBLICS GOURRAUD : revenue, balance sheet and financial ratios

In 2021, SOCIETE DE TRAVAUX PUBLICS GOURRAUD achieves revenue of 3.1 M€. Revenue is growing positively over 6 years (CAGR: +1.7%). Slight decline of -2% vs 2020. After deducting consumption (121 k€), gross margin stands at 3.0 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 845 k€, representing 26.9% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -12%, reducing margin by 3.3 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 32 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 65%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 24.3% 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 137.30. 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 0.6x. 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: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 87 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 217 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-22 days): operations structurally generate cash. Notable WCR improvement over the period (-108%), freeing up cash.

Based on 95 transactions of similar company sales (all years), the value of SOCIETE DE TRAVAUX PUBLICS GOURRAUD is estimated at 768 936 € (range 232 107€ - 4 524 939€). With an EBITDA of 844 511€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.