STE AGRICOLE COOPERATIVE DE FINS : revenue, balance sheet and financial ratios

In 2020, STE AGRICOLE COOPERATIVE DE FINS achieves revenue of 2.0 M€. Over the period 2016-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +10.7%. Vs 2019, growth of +10% (1.8 M€ -> 2.0 M€). After deducting consumption (1.7 M€), gross margin stands at 280 k€, i.e. a rate of 14%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 140 k€, representing 7.2% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 123 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 66%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 54%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. 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 225.33. 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 6.5x. 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: 153 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The gap of 137 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 26 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 198 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2016-2020, WCR increased by +135%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of STE AGRICOLE COOPERATIVE DE FINS is estimated at 631 819 € (range 231 416€ - 1 222 701€). With an EBITDA of 140 292€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.