CAVE ROBERT ET MARCEL : revenue, balance sheet and financial ratios

In 2025, CAVE ROBERT ET MARCEL achieves revenue of 28.4 M€. Activity remains stable over the period (CAGR: -0.2%). Slight decline of -5% vs 2024. After deducting consumption (13.9 M€), gross margin stands at 14.5 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.0 M€, representing 3.6% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -69%, reducing margin by 7.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -14.9 M€ (-52.7% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 196%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 62.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 247.92. 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 71.1x. 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: 90 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 198 days. Excellent situation: suppliers finance 108 days of the operating cycle (retail model). Inventory turnover is 501 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 623 days of revenue, i.e. 49.1 M€ to permanently finance. Over 2016-2025, WCR increased by +51%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of CAVE ROBERT ET MARCEL is estimated at 5 414 284 € (range 2 870 153€ - 13 192 082€). With an EBITDA of 1 026 803€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.