VALSPORT : revenue, balance sheet and financial ratios

In 2024, VALSPORT achieves revenue of 3.6 M€. Activity remains stable over the period (CAGR: -4.6%). Significant drop of -47% vs 2024. After deducting consumption (2.2 M€), gross margin stands at 1.4 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 336 k€, representing 9.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.6 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 258 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 5%. 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 74%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.3% 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 376.54. 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 0.9x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 61 days. Excellent situation: suppliers finance 58 days of the operating cycle (retail model). Inventory turnover is 147 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 141 days of revenue, i.e. 1.4 M€ to permanently finance. Over 2017-2024, WCR increased by +38%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 586 772€ to 3 240 256€ is provided for information purposes only and requires in-depth analysis to be confirmed.