VITRAGE ISOLANT TECHNIQUE : revenue, balance sheet and financial ratios

In 2025, VITRAGE ISOLANT TECHNIQUE achieves revenue of 23.7 M€. Revenue is growing positively over 9 years (CAGR: +4.5%). Slight decline of -9% vs 2024. After deducting consumption (10.1 M€), gross margin stands at 13.6 M€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.7 M€, representing 11.2% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -37%, reducing margin by 5.0 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 1.4 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 113%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.2% 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 305.05. 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 5.0x. 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: 57 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The company must finance 18 days of gap between collections and payments. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 89 days of revenue, i.e. 5.8 M€ to permanently finance.

Based on 228 transactions of similar company sales (all years), the value of VITRAGE ISOLANT TECHNIQUE is estimated at 3 445 884 € (range 1 396 655€ - 9 165 518€). With an EBITDA of 2 650 309€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.