TRUCHON DIFFUSION : revenue, balance sheet and financial ratios

In 2025, TRUCHON DIFFUSION achieves revenue of 4.0 M€. Activity remains stable over the period (CAGR: -1.5%). Significant drop of -45% vs 2024. After deducting consumption (3.0 M€), gross margin stands at 991 k€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 303 k€, representing 7.6% of revenue. Warning negative scissor effect: despite revenue change (-45%), EBITDA varies by -57%, reducing margin by 2.2 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 192 k€, i.e. 4.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 59%. Debt remains under control: the company retains capacity to raise new debt if needed. 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 6.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.3% 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 317.34. 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 10.5x. 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: 223 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. The gap of 131 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 97 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 379 days of revenue, i.e. 4.2 M€ to permanently finance. Over 2016-2025, WCR increased by +67%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of TRUCHON DIFFUSION is estimated at 307 012 € (range 187 077€ - 661 856€). With an EBITDA of 302 797€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.