TRANSPORTS GROUSSARD SA : revenue, balance sheet and financial ratios

In 2023, TRANSPORTS GROUSSARD SA achieves revenue of 41.1 M€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +7.8%. Vs 2022: +4%. After deducting consumption (7.0 M€), gross margin stands at 34.1 M€, i.e. a rate of 83%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.6 M€, representing 3.9% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -33%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 66 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 347%. 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 11%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.6% 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 104.91. 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 66.1x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 91 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 7 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 71 days of revenue, i.e. 8.1 M€ to permanently finance. Over 2016-2023, WCR increased by +711%, requiring additional financing.

Based on 53 transactions of similar company sales in 2023, the value of TRANSPORTS GROUSSARD SA is estimated at 4 178 689 € (range 1 628 328€ - 11 101 389€). With an EBITDA of 1 600 418€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.19x (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.