BEAUTE RECHERCHE & INDUSTRIES : revenue, balance sheet and financial ratios

In 2024, BEAUTE RECHERCHE & INDUSTRIES achieves revenue of 235.8 M€. Activity remains stable over the period (CAGR: -2.2%). Vs 2023: +10%. After deducting consumption (146.5 M€), gross margin stands at 89.3 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 19.0 M€, representing 8.0% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by -32%, reducing margin by 5.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 6.5 M€, i.e. 2.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 133%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 20%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.9% 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 126.40. 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 4.3x. 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: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 65 days. Excellent situation: suppliers finance 49 days of the operating cycle (retail model). Inventory turnover is 63 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 32 days of revenue, i.e. 21.0 M€ to permanently finance. Notable WCR improvement over the period (-58%), freeing up cash.

Based on 74 transactions of similar company sales (all years), the value of BEAUTE RECHERCHE & INDUSTRIES is estimated at 14 402 597 € (range 7 183 344€ - 36 873 799€). With an EBITDA of 18 979 049€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.11x (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.