ANI'MARCHES : revenue, balance sheet and financial ratios

In 2024, ANI'MARCHES achieves revenue of 292 k€. Revenue is declining over the period 2017-2024 (CAGR: -8.1%). Significant drop of -44% vs 2023. After deducting consumption (1 k€), gross margin stands at 290 k€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 49 k€, representing 16.7% of revenue. Positive scissor effect: EBITDA margin improves by +3.9 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 23 k€, i.e. 7.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 520%. 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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 12.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 201.07. 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 19.4x. 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: 209 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. The gap of 159 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 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 100 days of revenue, i.e. 81 k€ to permanently finance.

Based on 131 transactions of similar company sales (all years), the value of ANI'MARCHES is estimated at 164 694 € (range 55 657€ - 307 437€). With an EBITDA of 48 700€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.