LES CHAMPIGNONS DE NORMANDIE : revenue, balance sheet and financial ratios

In 2024, LES CHAMPIGNONS DE NORMANDIE achieves revenue of 13.2 M€. Revenue is growing positively over 7 years (CAGR: +3.1%). Vs 2023, growth of +13% (11.6 M€ -> 13.2 M€). After deducting consumption (3.7 M€), gross margin stands at 9.5 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.9 M€, representing 14.4% of revenue. Positive scissor effect: EBITDA margin improves by +3.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 539 k€, i.e. 4.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 117%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 143.95. 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 6.7x. 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: 51 days. Favorable situation: supplier credit is longer than customer credit by 24 days. Inventory turnover is 20 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 32 days of revenue, i.e. 1.2 M€ to permanently finance. Notable WCR improvement over the period (-63%), freeing up cash.

Based on 138 transactions of similar company sales (all years), the value of LES CHAMPIGNONS DE NORMANDIE is estimated at 5 084 831 € (range 1 730 138€ - 8 372 660€). With an EBITDA of 1 902 589€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.