VITRAGES ISOLANTS DES COTES D'ARMOR - V.I.C.A. : revenue, balance sheet and financial ratios

In 2024, VITRAGES ISOLANTS DES COTES D'ARMOR - V.I.C.A. achieves revenue of 7.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.5%. Slight decline of -9% vs 2023. After deducting consumption (3.7 M€), gross margin stands at 3.4 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 457 k€, representing 6.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 303 k€, i.e. 4.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 53%. 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 4.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 251.75. 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: 42 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 41 days. The company must finance 1 days of gap between collections and payments. Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 50 days of revenue, i.e. 980 k€ to permanently finance.

Based on 228 transactions of similar company sales (all years), the value of VITRAGES ISOLANTS DES COTES D'ARMOR - V.I.C.A. is estimated at 734 279 € (range 327 184€ - 1 982 366€). With an EBITDA of 456 558€, 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.