SOUDURE TUYAUTERIE HAUTE PRESSION : revenue, balance sheet and financial ratios

In 2021, SOUDURE TUYAUTERIE HAUTE PRESSION achieves revenue of 208 k€. Over the period 2018-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +33.4%. Vs 2020, growth of +86% (112 k€ -> 208 k€). After deducting consumption (7 k€), gross margin stands at 201 k€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 78 k€, representing 37.5% of revenue. Warning negative scissor effect: despite revenue change (+86%), EBITDA varies by +22%, reducing margin by 19.9 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 51 k€, i.e. 24.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 80%. 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 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 31.4% 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 1106.54. 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 0.5x. 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: 89 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The gap of 73 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 85 days of revenue, i.e. 49 k€ to permanently finance. Over 2018-2021, WCR increased by +97%, requiring additional financing.

Based on 98 transactions of similar company sales (all years), the value of SOUDURE TUYAUTERIE HAUTE PRESSION is estimated at 77 367 € (range 36 193€ - 190 900€). With an EBITDA of 77 881€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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.