COMME DES GARCONS PARFUMS : revenue, balance sheet and financial ratios

In 2024, COMME DES GARCONS PARFUMS achieves revenue of 5.5 M€. Revenue is growing positively over 9 years (CAGR: +1.9%). Slight decline of -4% vs 2023. After deducting consumption (2.5 M€), gross margin stands at 3.0 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.0 M€, representing 35.9% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -18%, reducing margin by 6.3 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 1.2 M€, i.e. 22.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 25%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 63%. 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 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 29.0% 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 362.97. 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 4.2x. 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: 87 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 178 days. Excellent situation: suppliers finance 91 days of the operating cycle (retail model). Inventory turnover is 211 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 496 days of revenue, i.e. 7.6 M€ to permanently finance. Over 2016-2024, WCR increased by +80%, requiring additional financing.

Based on 64 transactions of similar company sales (all years), the value of COMME DES GARCONS PARFUMS is estimated at 3 414 480 € (range 1 803 197€ - 14 908 392€). With an EBITDA of 1 980 674€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.38x (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.