VALOFISH : revenue, balance sheet and financial ratios

In 2024, VALOFISH achieves revenue of 18.8 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.3%. Vs 2023: +4%. After deducting consumption (9.8 M€), gross margin stands at 9.0 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 741 k€, representing 3.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 543 k€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 44%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 3.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 4.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 256.43. 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 10.1x. 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: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 59 days. Favorable situation: supplier credit is longer than customer credit by 18 days. Inventory turnover is 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 153 days of revenue, i.e. 8.0 M€ to permanently finance. Over 2016-2024, WCR increased by +413%, requiring additional financing.

Based on 242 transactions of similar company sales in 2024, the value of VALOFISH is estimated at 6 392 271 € (range 3 641 836€ - 9 704 812€). With an EBITDA of 740 999€, the sector multiple of 6.6x is applied. The price/revenue ratio is 0.56x (in line with sector norms). 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.