ATELIER CHABORD : revenue, balance sheet and financial ratios

In 2023, ATELIER CHABORD achieves revenue of 1.1 M€. Revenue is growing positively over 8 years (CAGR: +0.9%). Slight decline of -1% vs 2022. After deducting consumption (209 k€), gross margin stands at 861 k€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 43 k€, representing 4.0% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -54%, reducing margin by 4.5 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 50 k€, i.e. 4.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 51%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 55%. 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 4.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.5% 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 516.47. 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 9.3x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 83 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 149 days of revenue, i.e. 443 k€ to permanently finance. Over 2016-2023, WCR increased by +64%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of ATELIER CHABORD is estimated at 82 529 € (range 49 870€ - 173 230€). With an EBITDA of 42 815€, the sector multiple of 1.0x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.