THOMAS GRANULATS : revenue, balance sheet and financial ratios

In 2025, THOMAS GRANULATS achieves revenue of 3.9 M€. Revenue is growing positively over 9 years (CAGR: +3.2%). Slight decline of -10% vs 2024. After deducting consumption (175 k€), gross margin stands at 3.7 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 710 k€, representing 18.3% of 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 54 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 56%. 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 1.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 18.7% 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 396.61. 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 5.8x. 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: 43 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 80 days of revenue, i.e. 865 k€ to permanently finance. Over 2016-2025, WCR increased by +78%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of THOMAS GRANULATS is estimated at 717 071 € (range 233 523€ - 3 962 274€). With an EBITDA of 710 219€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.