TROPIC PARTNERS : revenue, balance sheet and financial ratios

In 2024, TROPIC PARTNERS achieves revenue of 571 k€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +34.4%. Vs 2023, growth of +64% (348 k€ -> 571 k€). After deducting consumption (0 €), gross margin stands at 571 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 226 k€, representing 39.6% of revenue. Warning negative scissor effect: despite revenue change (+64%), EBITDA varies by +13%, reducing margin by 17.8 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 840 k€, i.e. 147.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 24%. 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 80%. 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 3.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 160.9% 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 2586.98. 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 79.3x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. Favorable situation: supplier credit is longer than customer credit by 17 days. Overall, WCR represents 700 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2019-2024, WCR increased by +474%, requiring additional financing.

Based on 277 transactions of similar company sales (all years), the value of TROPIC PARTNERS is estimated at 573 948 € (range 160 043€ - 1 713 993€). With an EBITDA of 226 176€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.29x (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.