SOCIETE MARTINIQUAISE DES VILLAGES DE VACANCES : revenue, balance sheet and financial ratios

In 2024, SOCIETE MARTINIQUAISE DES VILLAGES DE VACANCES achieves revenue of 29.0 M€. Revenue is growing positively over 6 years (CAGR: +3.0%). Vs 2023: +10%. After deducting consumption (5.9 M€), gross margin stands at 23.1 M€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.6 M€, representing 5.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 848 k€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -119%. 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 -141%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 14.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 113.00. 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 37.5x. 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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 72 days. Excellent situation: suppliers finance 70 days of the operating cycle (retail model). Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 59 days of revenue, i.e. 4.7 M€ to permanently finance. Over 2016-2024, WCR increased by +198%, requiring additional financing.

Based on 261 transactions of similar company sales (all years), the value of SOCIETE MARTINIQUAISE DES VILLAGES DE VACANCES is estimated at 11 756 010 € (range 7 257 570€ - 22 164 941€). With an EBITDA of 1 595 303€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (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.