VERMANDOISE D'INVESTISSEMENT ET DE PARTICIPATION : revenue, balance sheet and financial ratios

In 2024, VERMANDOISE D'INVESTISSEMENT ET DE PARTICIPATION achieves revenue of 773 k€. Activity remains stable over the period (CAGR: -0.6%). Vs 2023, growth of +32% (584 k€ -> 773 k€). After deducting consumption (75 €), gross margin stands at 773 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 86 k€, representing 11.2% of revenue. Positive scissor effect: EBITDA margin improves by +19.5 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 422 k€, i.e. 54.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 79%. 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 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 41.2% 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 494.70. 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 11.5x. 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: 236 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 66 days. The gap of 170 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 350 days of revenue, i.e. 752 k€ to permanently finance. Notable WCR improvement over the period (-70%), freeing up cash.

Based on 103 transactions of similar company sales in 2024, the value of VERMANDOISE D'INVESTISSEMENT ET DE PARTICIPATION is estimated at 1 106 989 € (range 354 534€ - 2 695 955€). With an EBITDA of 86 460€, the sector multiple of 5.0x 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.