BERNIER ESSONNE : revenue, balance sheet and financial ratios

In 2024, BERNIER ESSONNE achieves revenue of 104.9 M€. Revenue is growing positively over 9 years (CAGR: +3.7%). Slight decline of -2% vs 2023. After deducting consumption (87.6 M€), gross margin stands at 17.3 M€, i.e. a rate of 17%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.8 M€, representing 1.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 482 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 46%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 120.31. 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 35.5x. 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: 17 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 100 days. Excellent situation: suppliers finance 83 days of the operating cycle (retail model). Inventory turnover is 84 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 94 days of revenue, i.e. 27.5 M€ to permanently finance. Over 2016-2024, WCR increased by +40%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of BERNIER ESSONNE is estimated at 6 752 383 € (range 2 981 925€ - 11 869 443€). With an EBITDA of 1 799 642€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.