TERH MONUMENTS HISTORIQUES : revenue, balance sheet and financial ratios

In 2024, TERH MONUMENTS HISTORIQUES achieves revenue of 5.4 M€. Revenue is growing positively over 7 years (CAGR: +1.5%). After deducting consumption (528 k€), gross margin stands at 4.9 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 590 k€, representing 10.9% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.1 M€, i.e. 20.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 77%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 22.6% 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 147.90. 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 8.6x. 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: 72 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 36 days. The gap of 36 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 20 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 52 days of revenue, i.e. 781 k€ to permanently finance. Notable WCR improvement over the period (-54%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 1 231 480€ to 3 716 232€ is provided for information purposes only and requires in-depth analysis to be confirmed.