CLAUDE MUSSEAU PAYSAGISTE : revenue, balance sheet and financial ratios

In 2022, CLAUDE MUSSEAU PAYSAGISTE achieves revenue of 469 k€. Revenue is growing positively over 6 years (CAGR: +3.0%). Significant drop of -10% vs 2021. After deducting consumption (150 k€), gross margin stands at 320 k€, i.e. a rate of 68%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 52 k€, representing 11.1% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -28%, reducing margin by 2.8 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 18 k€, i.e. 3.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 1.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 281.03. 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 1.8x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 13 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Excellent situation: suppliers finance 36 days of the operating cycle (retail model). Inventory turnover is 65 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 49 days of revenue, i.e. 63 k€ to permanently finance. Over 2016-2022, WCR increased by +265%, requiring additional financing.

Based on 125 transactions of similar company sales (all years), the value of CLAUDE MUSSEAU PAYSAGISTE is estimated at 133 323 € (range 52 317€ - 228 205€). With an EBITDA of 52 232€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.35x (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.