CHEVAL BLANC : revenue, balance sheet and financial ratios

CHEVAL BLANC is a French company founded 10 years ago, specialized in the sector Fabrication industrielle de pain et de pâtisserie fraîche. Based in L'ETANG-SALE (97427), this company of category PME shows in 2024 a revenue of 8.8 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - CHEVAL BLANC (SIREN 812311488)
Indicator 2024 2023 2020 2019 2018
Revenue 8 758 337 € 8 307 058 € 5 967 185 € 4 767 276 € N/C
Net income 813 758 € 515 059 € 443 087 € -289 019 € 2 668 913 €
EBITDA 1 663 155 € 1 872 229 € 2 003 194 € 1 046 888 € -96 040 €
Net margin 9.3% 6.2% 7.4% -6.1% N/C

Revenue and income statement

In 2024, CHEVAL BLANC achieves revenue of 8.8 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +12.9%. Vs 2023: +5%. After deducting consumption (5.6 M€), gross margin stands at 3.2 M€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.7 M€, representing 19.0% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -11%, reducing margin by 3.5 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 814 k€, i.e. 9.3% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

8 758 337 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

3 182 763 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

1 663 155 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

813 529 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

813 758 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

19.0%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 61%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 56%. 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 2.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 17.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

60.513%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

56.308%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

17.027%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

2.845

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

41.3%

Solvency indicators evolution
CHEVAL BLANC

Sector positioning

Debt ratio
60.51 2024
2020
2023
2024
Q1: 0.0
Med: 31.34
Q3: 102.72
Average -10 pts over 3 years

In 2024, the debt ratio of CHEVAL BLANC (60.51) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
56.31% 2024
2020
2023
2024
Q1: 9.78%
Med: 32.57%
Q3: 56.31%
Excellent +19 pts over 3 years

In 2024, the financial autonomy of CHEVAL BLANC (56.3%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
2.85 years 2024
2020
2023
2024
Q1: 0.0 years
Med: 0.14 years
Q3: 2.48 years
Average

In 2024, the repayment capacity of CHEVAL BLANC (2.85) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 456.93. 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 4.5x. Financial charges are adequately covered by operations.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

456.93

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

4.533

Liquidity indicators evolution
CHEVAL BLANC

Sector positioning

Liquidity ratio
456.93 2024
2020
2023
2024
Q1: 102.62
Med: 152.34
Q3: 237.09
Excellent

In 2024, the liquidity ratio of CHEVAL BLANC (456.93) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
4.53x 2024
2020
2023
2024
Q1: 0.0x
Med: 1.79x
Q3: 5.95x
Good -8 pts over 3 years

In 2024, the interest coverage of CHEVAL BLANC (4.5x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 76 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 54 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 140 days of revenue, i.e. 3.4 M€ to permanently finance.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

3 417 065 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

76 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

55 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

54 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

140 j

WCR and payment terms evolution
CHEVAL BLANC

Positioning of CHEVAL BLANC in its sector

Comparison with sector Fabrication industrielle de pain et de pâtisserie fraîche

Valuation estimate

Based on 203 transactions of similar company sales in 2024, the value of CHEVAL BLANC is estimated at 8 490 719 € (range 4 634 751€ - 13 586 104€). With an EBITDA of 1 663 155€, 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.

Estimated enterprise value 2024
203 transactions
4634k€ 8490k€ 13586k€
8 490 719 € Range: 4 634 751€ - 13 586 104€
NAF 5 année 2024

Valuation detail by method

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EBITDA Multiple 50%
1 663 155 € × 6.7x
Estimation 11 198 234 €
5 963 074€ - 17 912 100€
Revenue Multiple 30%
8 758 337 € × 0.55x
Estimation 4 858 051 €
3 034 271€ - 6 466 881€
Net Income Multiple 20%
813 758 € × 8.8x
Estimation 7 170 938 €
3 714 667€ - 13 449 952€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 203 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Fabrication industrielle de pain et de pâtisserie fraîche)

Compare CHEVAL BLANC with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication industrielle de pain et de pâtisserie fraîche

Frequently asked questions about CHEVAL BLANC

What is the revenue of CHEVAL BLANC ?

The revenue of CHEVAL BLANC in 2024 is 8.8 M€.

Is CHEVAL BLANC profitable?

Yes, CHEVAL BLANC generated a net profit of 814 k€ in 2024.

Where is the headquarters of CHEVAL BLANC ?

The headquarters of CHEVAL BLANC is located in L'ETANG-SALE (97427), in the department La Reunion.

Where to find the tax return of CHEVAL BLANC ?

The tax return of CHEVAL BLANC is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does CHEVAL BLANC operate?

CHEVAL BLANC operates in the sector Fabrication industrielle de pain et de pâtisserie fraîche (NAF code 10.71A). See the 'Sector positioning' section above to compare the company with its competitors.