TRAVAUX AMENAGEMENTS AUTHION : revenue, balance sheet and financial ratios

In 2024, TRAVAUX AMENAGEMENTS AUTHION achieves revenue of 1.3 M€. Revenue is growing positively over 9 years (CAGR: +4.2%). Slight decline of -4% vs 2023. After deducting consumption (287 k€), gross margin stands at 1.0 M€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 306 k€, representing 23.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 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 94 k€, i.e. 7.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 89%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 44%. 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 2.3 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 339.66. 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 5.3x. 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: 117 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The gap of 64 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 7 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 133 days of revenue, i.e. 480 k€ to permanently finance. Over 2016-2024, WCR increased by +335%, requiring additional financing.

Based on 50 transactions of similar company sales (all years), the value of TRAVAUX AMENAGEMENTS AUTHION is estimated at 595 001 € (range 217 234€ - 1 017 204€). With an EBITDA of 306 080€, the sector multiple of 2.7x is applied. The price/revenue ratio is 0.37x (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.