ETS BAILLET - TERRE DES ARTS : revenue, balance sheet and financial ratios

In 2025, ETS BAILLET - TERRE DES ARTS achieves revenue of 282 k€. Activity remains stable over the period (CAGR: -0.6%). Slight decline of -7% vs 2024. After deducting consumption (122 k€), gross margin stands at 160 k€, i.e. a rate of 57%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 10 k€, representing 3.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -7 k€ (-2.4% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 105%. 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 4.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.5% 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 181.51. 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 17.9x. 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: 23 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 23 days. Inventory turnover is 144 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 78 days of revenue, i.e. 61 k€ to permanently finance. Notable WCR improvement over the period (-27%), freeing up cash.

Based on 228 transactions of similar company sales (all years), the value of ETS BAILLET - TERRE DES ARTS is estimated at 22 873 € (range 12 247€ - 64 423€). With an EBITDA of 9 700€, 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.