CHLORIS : revenue, balance sheet and financial ratios

In 2024, CHLORIS achieves revenue of 767 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +17.7%. Vs 2023: +1%. After deducting consumption (439 k€), gross margin stands at 328 k€, i.e. a rate of 43%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 40 k€, representing 5.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -11 k€ (-1.4% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 495%. 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 7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 75.02. 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 24.6x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 151 days. Excellent situation: suppliers finance 151 days of the operating cycle (retail model). Inventory turnover is 142 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 96 days of revenue, i.e. 204 k€ to permanently finance. Notable WCR improvement over the period (-34%), freeing up cash.

Based on 132 transactions of similar company sales (all years), the value of CHLORIS is estimated at 180 390 € (range 101 781€ - 344 375€). With an EBITDA of 40 086€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.35x (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.