A LA BONNE FRANQUETTE : revenue, balance sheet and financial ratios

In 2021, A LA BONNE FRANQUETTE achieves revenue of 341 k€. Over the period 2015-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +7.7%. Significant drop of -21% vs 2019. After deducting consumption (135 k€), gross margin stands at 207 k€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 94 k€, representing 27.6% of revenue. Positive scissor effect: EBITDA margin improves by +12.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 100 k€, i.e. 29.2% 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 8%. 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 33.6% 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 234.43. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 23 days. Favorable situation: supplier credit is longer than customer credit by 23 days. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 39 days of revenue, i.e. 37 k€ to permanently finance. Over 2015-2021, WCR increased by +242%, requiring additional financing.

Based on 663 transactions of similar company sales in 2021, the value of A LA BONNE FRANQUETTE is estimated at 498 177 € (range 280 391€ - 915 607€). With an EBITDA of 94 104€, the sector multiple of 5.7x is applied. The price/revenue ratio is 0.87x (in line with sector norms). 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.