C. PARFUMS COSMETIQUES : revenue, balance sheet and financial ratios

In 2023, C. PARFUMS COSMETIQUES achieves revenue of 17.5 M€. Over the period 2019-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +18.0%. Slight decline of -3% vs 2022. After deducting consumption (10.8 M€), gross margin stands at 6.6 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 1.0 M€, representing 5.8% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -39%, reducing margin by 3.3 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 597 k€, i.e. 3.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 44%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.3% 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 156.09. 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 0.3x. 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: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 37 days of revenue, i.e. 1.8 M€ to permanently finance.

Based on 158 transactions of similar company sales (all years), the value of C. PARFUMS COSMETIQUES is estimated at 3 950 399 € (range 1 628 532€ - 8 460 862€). With an EBITDA of 1 014 198€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.36x (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.