ATELIER DE L ARGOAT : revenue, balance sheet and financial ratios

In 2024, ATELIER DE L ARGOAT achieves revenue of 10.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.2%. Vs 2022, growth of +18% (8.6 M€ -> 10.2 M€). After deducting consumption (4.3 M€), gross margin stands at 5.9 M€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 801 k€, representing 7.9% of revenue. Positive scissor effect: EBITDA margin improves by +2.7 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 391 k€, i.e. 3.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 27%. 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 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 0.9 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 194.32. 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 0.5x. 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: 26 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. The company must finance 2 days of gap between collections and payments. Inventory turnover is 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 49 days of revenue, i.e. 1.4 M€ to permanently finance. Over 2016-2024, WCR increased by +67%, requiring additional financing.

Based on 108 transactions of similar company sales (all years), the value of ATELIER DE L ARGOAT is estimated at 2 585 376 € (range 1 421 252€ - 5 566 970€). With an EBITDA of 801 335€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.26x (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.