TISSOT INDUSTRIE : revenue, balance sheet and financial ratios

In 2024, TISSOT INDUSTRIE achieves revenue of 20.6 M€. Revenue is declining over the period 2016-2024 (CAGR: -10.9%). Significant drop of -64% vs 2023. After deducting consumption (12.6 M€), gross margin stands at 8.1 M€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.2 M€, representing 25.0% of revenue. Positive scissor effect: EBITDA margin improves by +17.5 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 2.6 M€, i.e. 12.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 20.1% 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 119.56. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 168 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. The gap of 126 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 566 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-41 days): operations structurally generate cash. Notable WCR improvement over the period (-124%), freeing up cash.

Based on 276 transactions of similar company sales (all years), the value of TISSOT INDUSTRIE is estimated at 7 111 185 € (range 2 305 232€ - 18 115 842€). With an EBITDA of 5 153 978€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.