ACADEMIE DE COIFFURE MAX'S : revenue, balance sheet and financial ratios

In 2024, ACADEMIE DE COIFFURE MAX'S achieves revenue of 894 k€. Activity remains stable over the period (CAGR: -4.4%). Slight decline of -6% vs 2023. After deducting consumption (42 k€), gross margin stands at 852 k€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 129 k€, representing 14.4% of revenue. Positive scissor effect: EBITDA margin improves by +13.7 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 57 k€, i.e. 6.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 146%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 36%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 18.6% 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 477.77. 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 24.0x. 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: 110 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 105 days. The company must finance 5 days of gap between collections and payments. Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 396 days of revenue, i.e. 982 k€ to permanently finance. Over 2016-2024, WCR increased by +394%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of ACADEMIE DE COIFFURE MAX'S is estimated at 530 605 € (range 187 318€ - 833 222€). With an EBITDA of 129 126€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.