VILLEMIN ETIENNE : revenue, balance sheet and financial ratios

In 2025, VILLEMIN ETIENNE achieves revenue of 945 k€. Revenue is growing positively over 10 years (CAGR: +0.7%). Slight decline of -5% vs 2024. After deducting consumption (366 k€), gross margin stands at 579 k€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 125 k€, representing 13.2% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -24%, reducing margin by 3.2 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 73 k€, i.e. 7.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 110%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 4.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 9.6% 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 442.32. 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 14.8x. 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: 9 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. Favorable situation: supplier credit is longer than customer credit by 17 days. Inventory turnover is 116 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 118 days of revenue, i.e. 309 k€ to permanently finance. Over 2016-2025, WCR increased by +86%, requiring additional financing.

Based on 83 transactions of similar company sales in 2025, the value of VILLEMIN ETIENNE is estimated at 268 063 € (range 125 965€ - 435 377€). With an EBITDA of 124 611€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.26x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.