ENJOY PROMO : revenue, balance sheet and financial ratios

In 2024, ENJOY PROMO achieves revenue of 648 k€. Vs 2023: +1%. After deducting consumption (423 k€), gross margin stands at 225 k€, i.e. a rate of 35%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6 k€, representing 0.9% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -81%, reducing margin by 4.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -4 k€ (-0.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 63%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 0.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 189.12. 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: 27 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The company must finance 11 days of gap between collections and payments. Inventory turnover is 25 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 32 days of revenue, i.e. 58 k€ to permanently finance.

Based on 50 transactions of similar company sales (all years), the value of ENJOY PROMO is estimated at 84 271 € (range 42 143€ - 170 890€). With an EBITDA of 6 025€, the sector multiple of 1.8x is applied. The price/revenue ratio is 0.32x (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.