TRANSPORTS SERVICES INTERNATIONAUX : revenue, balance sheet and financial ratios

In 2022, TRANSPORTS SERVICES INTERNATIONAUX achieves revenue of 127 k€. Revenue is growing positively over 6 years (CAGR: +0.3%). Vs 2021, growth of +114% (59 k€ -> 127 k€). After deducting consumption (-626 €), gross margin stands at 128 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 34 k€, representing 26.8% of revenue. Warning negative scissor effect: despite revenue change (+114%), EBITDA varies by -13%, reducing margin by 39.0 pts. This reflects costs rising faster than 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 32 k€, i.e. 25.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 21%. 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 63%. 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 25.3% 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 421.67. 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 0.3x. 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: 56 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. The company must finance 13 days of gap between collections and payments. Inventory turnover is 33 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 88 days of revenue, i.e. 31 k€ to permanently finance.

Based on 148 transactions of similar company sales in 2022, the value of TRANSPORTS SERVICES INTERNATIONAUX is estimated at 45 349 € (range 18 695€ - 125 236€). With an EBITDA of 34 072€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.16x (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.