ALL JEANS ANCENIS : revenue, balance sheet and financial ratios

In 2024, ALL JEANS ANCENIS achieves revenue of 732 k€. Revenue is growing positively over 3 years (CAGR: +2.4%). Slight decline of -8% vs 2023. After deducting consumption (407 k€), gross margin stands at 325 k€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 46 k€, representing 6.3% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -67%, reducing margin by 11.6 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 27 k€, i.e. 3.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 157%. 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 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.1% 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 217.16. 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 10.0x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 160 days. Excellent situation: suppliers finance 159 days of the operating cycle (retail model). Inventory turnover is 100 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 290 days of revenue, i.e. 590 k€ to permanently finance. Over 2022-2024, WCR increased by +78%, requiring additional financing.

Based on 68 transactions of similar company sales in 2024, the value of ALL JEANS ANCENIS is estimated at 106 193 € (range 56 964€ - 231 112€). With an EBITDA of 46 485€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.19x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.