XEFI GRENOBLE : revenue, balance sheet and financial ratios

In 2024, XEFI GRENOBLE achieves revenue of 582 k€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +59.6%. Significant drop of -36% vs 2023. After deducting consumption (204 k€), gross margin stands at 378 k€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 35 k€, representing 5.9% of revenue. Warning negative scissor effect: despite revenue change (-36%), EBITDA varies by -78%, reducing margin by 11.0 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -566 € (-0.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 298%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

The liquidity ratio (= Current assets / Current liabilities) stands at 111.57. 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 33.4x. 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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 124 days. Excellent situation: suppliers finance 64 days of the operating cycle (retail model). Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 80 days of revenue, i.e. 129 k€ to permanently finance. Over 2020-2024, WCR increased by +154%, requiring additional financing.

Based on 215 transactions of similar company sales (all years), the value of XEFI GRENOBLE is estimated at 56 167 € (range 26 773€ - 157 396€). With an EBITDA of 34 627€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.16x (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.