ALBAX BOULOGNE : revenue, balance sheet and financial ratios

In 2024, ALBAX BOULOGNE achieves revenue of 2.1 M€. Activity remains stable over the period (CAGR: -3.3%). Slight decline of -4% vs 2023. After deducting consumption (769 k€), gross margin stands at 1.3 M€, i.e. a rate of 63%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 259 k€, representing 12.3% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -30%, reducing margin by 4.7 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 173 k€, i.e. 8.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 70%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.6% 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 305.83. 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 0.1x. 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: 9 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Excellent situation: suppliers finance 48 days of the operating cycle (retail model). Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 157 days of revenue, i.e. 917 k€ to permanently finance. Over 2014-2024, WCR increased by +995%, requiring additional financing.

Based on 147 transactions of similar company sales in 2024, the value of ALBAX BOULOGNE is estimated at 1 091 620 € (range 473 391€ - 1 930 659€). With an EBITDA of 258 964€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.35x (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.