ART ET GOURMANDISES : revenue, balance sheet and financial ratios

In 2023, ART ET GOURMANDISES achieves revenue of 456 k€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +8.0%. Slight decline of -3% vs 2022. After deducting consumption (143 k€), gross margin stands at 314 k€, i.e. a rate of 69%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 5.7% of revenue. Positive scissor effect: EBITDA margin improves by +3.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 16 k€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 79%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.4% 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 64.48. 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 0.4x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 21 days. Favorable situation: supplier credit is longer than customer credit by 21 days. Inventory turnover is 10 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-12 days): operations structurally generate cash.

Based on 131 transactions of similar company sales in 2023, the value of ART ET GOURMANDISES is estimated at 183 519 € (range 98 024€ - 299 664€). With an EBITDA of 26 239€, the sector multiple of 6.3x is applied. The price/revenue ratio is 0.51x (in line with sector norms). 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.