BOULANGERIE YONG : revenue, balance sheet and financial ratios

In 2024, BOULANGERIE YONG achieves revenue of 45.4 M€. Revenue is growing positively over 7 years (CAGR: +4.8%). Vs 2023: +4%. After deducting consumption (14.9 M€), gross margin stands at 30.5 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.0 M€, representing 6.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.1 M€, i.e. 4.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 80%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.0% 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 534.70. 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 19.2x. 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: 55 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 63 days. Favorable situation: supplier credit is longer than customer credit by 8 days. Inventory turnover is 22 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 174 days of revenue, i.e. 21.9 M€ to permanently finance. Over 2017-2024, WCR increased by +101%, requiring additional financing.

Based on 203 transactions of similar company sales in 2024, the value of BOULANGERIE YONG is estimated at 21 487 657 € (range 12 083 177€ - 33 373 598€). With an EBITDA of 3 034 482€, the sector multiple of 6.7x is applied. The price/revenue ratio is 0.55x (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.