AIN BUGEY NEGOCE : revenue, balance sheet and financial ratios

In 2021, AIN BUGEY NEGOCE achieves revenue of 142 k€. Revenue is growing positively over 5 years (CAGR: +2.1%). Vs 2020, growth of +64% (87 k€ -> 142 k€). After deducting consumption (68 k€), gross margin stands at 74 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 12 k€, representing 8.5% of revenue. Positive scissor effect: EBITDA margin improves by +12.4 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 9 k€, i.e. 6.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 334%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 58%. 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 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.5% 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 188.22. 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 2.4x. 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: 76 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. The gap of 54 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 56 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 59 days of revenue, i.e. 23 k€ to permanently finance.

Based on 185 transactions of similar company sales (all years), the value of AIN BUGEY NEGOCE is estimated at 38 370 € (range 15 335€ - 89 553€). With an EBITDA of 12 123€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.28x (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.