TARKETT FRANCE : revenue, balance sheet and financial ratios

In 2024, TARKETT FRANCE achieves revenue of 221.3 M€. Activity remains stable over the period (CAGR: -0.7%). Slight decline of -1% vs 2023. After deducting consumption (108.3 M€), gross margin stands at 113.0 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.7 M€, representing 2.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -1.2 M€ (-0.6% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 294%. 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 6%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 761.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 131.06. 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 93.1x. 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: 21 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 28 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 68 days of revenue, i.e. 41.9 M€ to permanently finance. Notable WCR improvement over the period (-33%), freeing up cash.

Based on 76 transactions of similar company sales (all years), the value of TARKETT FRANCE is estimated at 21 377 374 € (range 9 863 552€ - 32 699 852€). With an EBITDA of 5 695 566€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.