STUTZMANN AGENCEMENT : revenue, balance sheet and financial ratios

In 2024, STUTZMANN AGENCEMENT achieves revenue of 8.5 M€. Revenue is growing positively over 9 years (CAGR: +2.9%). Vs 2023, growth of +12% (7.6 M€ -> 8.5 M€). After deducting consumption (3.2 M€), gross margin stands at 5.3 M€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 908 k€, representing 10.7% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 573 k€, i.e. 6.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 47%. 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 0.3 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 182.20. 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 9.8x. 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: 134 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 77 days. The gap of 57 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 115 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 176 days of revenue, i.e. 4.1 M€ to permanently finance. Over 2016-2024, WCR increased by +66%, requiring additional financing.

Based on 51 transactions of similar company sales in 2024, the value of STUTZMANN AGENCEMENT is estimated at 1 457 407 € (range 733 421€ - 2 264 408€). With an EBITDA of 908 251€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.14x (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.