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

In 2025, COMME DES GARCONS SAS achieves revenue of 51.7 M€. Revenue is declining over the period 2021-2025 (CAGR: -7.8%). Significant drop of -18% vs 2024. After deducting consumption (24.5 M€), gross margin stands at 27.2 M€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 808 k€, representing 1.6% of revenue. Warning negative scissor effect: despite revenue change (-18%), EBITDA varies by -89%, reducing margin by 9.7 pts. This reflects costs rising faster than revenue. This ratio is slightly less favorable than the sector median (3.4%). Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 415 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. This ratio is more favorable than the sector median (13.7%). Financial autonomy (= Equity / Total assets x 100) reaches 66%. Compared with its sector, this ratio places the company among the best positioned (sector median: 32.1%). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 48.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This ratio is slightly less favorable than the sector median (2.8%).

The liquidity ratio (= Current assets / Current liabilities) stands at 3.20. This ratio is more favorable than the sector median (2.0). The interest coverage ratio (= EBIT / Interest expenses) is 29.0x. 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: 157 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 104 days. The gap of 53 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 69 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 278 days of revenue, i.e. 39.9 M€ to permanently finance. Between 2022 and 2025, WCR worsened by 129 days of revenue, signaling an increased financing need.

Based on 124 transactions of similar company sales (all years), the value of COMME DES GARCONS SAS is estimated at 3 867 781 € (range 1 841 511€ - 10 134 159€). With an EBITDA of 808 288€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.17x (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.