STEPHANE BOULLEY TRAVAUX PUBLICS : revenue, balance sheet and financial ratios

In 2023, STEPHANE BOULLEY TRAVAUX PUBLICS achieves revenue of 457 k€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +9.8%. Vs 2022, growth of +37% (334 k€ -> 457 k€). After deducting consumption (36 k€), gross margin stands at 420 k€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 85 k€, representing 18.5% of revenue. Warning negative scissor effect: despite revenue change (+37%), EBITDA varies by +12%, reducing margin by 4.2 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 7 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1001%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 3.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 17.7% 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 97.49. 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 9.3x. 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: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. The company must finance 6 days of gap between collections and payments. Inventory turnover is 69 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 19 days of revenue, i.e. 24 k€ to permanently finance. Notable WCR improvement over the period (-49%), freeing up cash.

Based on 120 transactions of similar company sales (all years), the value of STEPHANE BOULLEY TRAVAUX PUBLICS is estimated at 93 499 € (range 31 594€ - 233 583€). With an EBITDA of 84 597€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.22x (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.