TGBL MATERIEL : revenue, balance sheet and financial ratios

In 2025, TGBL MATERIEL achieves revenue of 448 k€. Over the period 2018-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +20.1%. Vs 2024, growth of +24% (362 k€ -> 448 k€). After deducting consumption (10 k€), gross margin stands at 438 k€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 107 k€, representing 23.8% of revenue. Positive scissor effect: EBITDA margin improves by +11.0 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1 k€, i.e. 0.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 355%. 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 21.3% 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 334.08. 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 10.3x. 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: 80 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. The gap of 61 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 71 days of revenue, i.e. 88 k€ to permanently finance. Over 2018-2025, WCR increased by +147%, requiring additional financing.

Based on 76 transactions of similar company sales (all years), the value of TGBL MATERIEL is estimated at 50 353 € (range 28 111€ - 175 134€). With an EBITDA of 106 708€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.13x (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.