SOC COOP AGRICOLE LE CHAI DES VIGNERONS : revenue, balance sheet and financial ratios

In 2023, SOC COOP AGRICOLE LE CHAI DES VIGNERONS achieves revenue of 1.4 M€. Activity remains stable over the period (CAGR: -3.4%). Significant drop of -14% vs 2022. After deducting consumption (1.3 M€), gross margin stands at 106 k€, i.e. a rate of 8%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 95 k€, representing 7.0% of revenue. Positive scissor effect: EBITDA margin improves by +15.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 15 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 86%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 50%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.1% 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 1033.94. 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 11.0x. 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: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 20 days. The company must finance 25 days of gap between collections and payments. Inventory turnover is 501 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 530 days of revenue, i.e. 2.0 M€ to permanently finance. Over 2017-2023, WCR increased by +225%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of SOC COOP AGRICOLE LE CHAI DES VIGNERONS is estimated at 276 607 € (range 144 683€ - 680 328€). With an EBITDA of 95 281€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.