TRANSDEV ILE DE FRANCE : revenue, balance sheet and financial ratios

In 2024, TRANSDEV ILE DE FRANCE achieves revenue of 17.5 M€. Revenue is declining over the period 2016-2024 (CAGR: -25.5%). Significant drop of -82% vs 2023. After deducting consumption (1.7 M€), gross margin stands at 15.9 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 895 k€, representing 5.1% of revenue. Positive scissor effect: EBITDA margin improves by +5.4 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 19.0 M€, i.e. 108.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 89%. 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 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 117.5% 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 106.51. 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 896.2x. 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: 173 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 158 days. The company must finance 15 days of gap between collections and payments. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 86 days of revenue, i.e. 4.2 M€ to permanently finance. Over 2016-2024, WCR increased by +114%, requiring additional financing.

Based on 85 transactions of similar company sales (all years), the value of TRANSDEV ILE DE FRANCE is estimated at 10 983 108 € (range 3 534 581€ - 24 287 161€). With an EBITDA of 895 000€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.14x (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.