COMO BONNEUIL : revenue, balance sheet and financial ratios

In 2024, COMO BONNEUIL achieves revenue of 25.2 M€. Activity remains stable over the period (CAGR: -2.2%). Vs 2023, growth of +14% (22.1 M€ -> 25.2 M€). After deducting consumption (19.8 M€), gross margin stands at 5.4 M€, i.e. a rate of 21%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 5.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 884 k€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 136.42. 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 5.4x. 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: 73 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 186 days. Excellent situation: suppliers finance 113 days of the operating cycle (retail model). Inventory turnover is 123 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 248 days of revenue, i.e. 17.3 M€ to permanently finance. Over 2017-2024, WCR increased by +86%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of COMO BONNEUIL is estimated at 2 764 289 € (range 1 208 402€ - 5 227 726€). With an EBITDA of 1 351 899€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.