C.K. RESTO : revenue, balance sheet and financial ratios

In 2023, C.K. RESTO achieves revenue of 443 k€. Over the period 2013-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +11.0%. Vs 2022, growth of +20% (370 k€ -> 443 k€). After deducting consumption (116 k€), gross margin stands at 327 k€, i.e. a rate of 74%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 32 k€, representing 7.2% of revenue. Warning negative scissor effect: despite revenue change (+20%), EBITDA varies by -49%, reducing margin by 9.8 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 15 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 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 58%. 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 4.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.3% 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 326.63. 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 6.3x. 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: 25 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. Favorable situation: supplier credit is longer than customer credit by 28 days. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 15 days of revenue, i.e. 18 k€ to permanently finance. Over 2013-2023, WCR increased by +841%, requiring additional financing.

Based on 689 transactions of similar company sales in 2023, the value of C.K. RESTO is estimated at 207 777 € (range 114 540€ - 381 436€). With an EBITDA of 31 779€, the sector multiple of 6.3x is applied. The price/revenue ratio is 0.66x (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.