TR EQUIPEMENT : revenue, balance sheet and financial ratios

In 2025, TR EQUIPEMENT achieves revenue of 13.6 M€. Activity remains stable over the period (CAGR: -4.1%). Slight decline of -1% vs 2024. After deducting consumption (8.5 M€), gross margin stands at 5.1 M€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.3 M€, representing 9.5% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -22%, reducing margin by 2.6 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 716 k€, i.e. 5.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 67%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 295.52. 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 4.9x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. The gap of 41 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 91 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 69 days of revenue, i.e. 2.6 M€ to permanently finance. Notable WCR improvement over the period (-38%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (33 transactions). This range of 473 575€ to 3 889 076€ is provided for information purposes only and requires in-depth analysis to be confirmed.