VILLARTHUR : revenue, balance sheet and financial ratios

In 2024, VILLARTHUR achieves revenue of 2.3 M€. Revenue is growing positively over 9 years (CAGR: +1.9%). Slight decline of -6% vs 2023. After deducting consumption (577 k€), gross margin stands at 1.7 M€, i.e. a rate of 75%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 244 k€, representing 10.5% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -37%, reducing margin by 5.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 76 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 48%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 166.83. 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 0.1x. 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: 30 days. Favorable situation: supplier credit is longer than customer credit by 27 days. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 8 days of revenue, i.e. 49 k€ to permanently finance. Over 2016-2024, WCR increased by +169%, requiring additional financing.

Based on 698 transactions of similar company sales in 2024, the value of VILLARTHUR is estimated at 1 161 615 € (range 608 014€ - 2 119 152€). With an EBITDA of 244 145€, the sector multiple of 5.4x is applied. The price/revenue ratio is 0.57x (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.