AGENCE ARCHITECT CHRISTIAN BOUR-ESQUISSE : revenue, balance sheet and financial ratios

In 2022, AGENCE ARCHITECT CHRISTIAN BOUR-ESQUISSE achieves revenue of 646 k€. Over the period 2017-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +7.2%. Significant drop of -11% vs 2021. After deducting consumption (0 €), gross margin stands at 646 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 45 k€, representing 6.9% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -61%, reducing margin by 9.0 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 35 k€, i.e. 5.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 30%. 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 52%. 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 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.9% 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 269.99. 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 0.6x. 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: 127 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The gap of 74 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 33 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 118 days of revenue, i.e. 213 k€ to permanently finance. Over 2017-2022, WCR increased by +96%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 69 923€ to 136 700€ is provided for information purposes only and requires in-depth analysis to be confirmed.