CHAGABORD : revenue, balance sheet and financial ratios

In 2024, CHAGABORD achieves revenue of 415 k€. Activity remains stable over the period (CAGR: -1.3%). Significant drop of -17% vs 2023. After deducting consumption (127 k€), gross margin stands at 288 k€, i.e. a rate of 69%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 28 k€, representing 6.8% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -71%, reducing margin by 12.4 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 16 k€, i.e. 3.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 32%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 41%. 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 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.2% 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 138.97. 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 4.1x. 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: 15 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 148 days. Excellent situation: suppliers finance 133 days of the operating cycle (retail model). Inventory turnover is 110 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 162 days of revenue, i.e. 186 k€ to permanently finance. Over 2016-2024, WCR increased by +105%, requiring additional financing.

Based on 68 transactions of similar company sales in 2024, the value of CHAGABORD is estimated at 62 398 € (range 33 248€ - 136 183€). With an EBITDA of 28 029€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.19x (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.