VACHERAND IMMOBILIER : revenue, balance sheet and financial ratios

In 2024, VACHERAND IMMOBILIER achieves revenue of 735 k€. Significant drop of -31% vs 2023. After deducting consumption (0 €), gross margin stands at 735 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 28 k€, representing 3.8% of revenue. Warning negative scissor effect: despite revenue change (-31%), EBITDA varies by -84%, reducing margin by 12.8 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 78 k€, i.e. 10.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 505%. 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 8%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 18.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 9.9% 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 35.43. 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 141.1x. 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: 114 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. The gap of 57 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-548 days): operations structurally generate cash.

Based on 173 transactions of similar company sales (all years), the value of VACHERAND IMMOBILIER is estimated at 187 543 € (range 67 890€ - 432 918€). With an EBITDA of 27 658€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.