ANCIENS ATELIERS BARTHE-BORDEREAU : revenue, balance sheet and financial ratios

In 2024, ANCIENS ATELIERS BARTHE-BORDEREAU achieves revenue of 1.1 M€. Revenue is growing positively over 8 years (CAGR: +3.8%). Vs 2023: +4%. After deducting consumption (117 k€), gross margin stands at 975 k€, i.e. a rate of 89%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 54 k€, representing 5.0% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -63%, reducing margin by 9.1 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 63 k€, i.e. 5.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 54%. 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 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.6% 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 293.93. 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 3.8x. 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. Favorable situation: supplier credit is longer than customer credit by 4 days. Inventory turnover is 70 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 132 days of revenue, i.e. 400 k€ to permanently finance.

Based on 228 transactions of similar company sales (all years), the value of ANCIENS ATELIERS BARTHE-BORDEREAU is estimated at 106 429 € (range 48 032€ - 286 802€). With an EBITDA of 54 266€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.