PARFUM NATURE ET COSMETIQUE : revenue, balance sheet and financial ratios

In 2021, PARFUM NATURE ET COSMETIQUE achieves revenue of 227 k€. Activity remains stable over the period (CAGR: -2.2%). Vs 2020, growth of +20% (189 k€ -> 227 k€). After deducting consumption (110 k€), gross margin stands at 117 k€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 38 k€, representing 16.9% of revenue. Warning negative scissor effect: despite revenue change (+20%), EBITDA varies by -12%, reducing margin by 6.3 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 27 k€, i.e. 12.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 12%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 18.5% 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 217.66. 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 3.9x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 93 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 86 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 109 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 114 days of revenue, i.e. 72 k€ to permanently finance. Over 2016-2021, WCR increased by +46%, requiring additional financing.

Based on 64 transactions of similar company sales (all years), the value of PARFUM NATURE ET COSMETIQUE is estimated at 81 259 € (range 44 779€ - 319 636€). With an EBITDA of 38 414€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.38x (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.