COMPAGNIE HOTELIERE DE CLERMONT-FERRAND : revenue, balance sheet and financial ratios

In 2021, COMPAGNIE HOTELIERE DE CLERMONT-FERRAND achieves revenue of 671 k€. Revenue is declining over the period 2016-2021 (CAGR: -12.8%). Vs 2020, growth of +57% (426 k€ -> 671 k€). After deducting consumption (41 k€), gross margin stands at 631 k€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 197 k€, representing 29.4% of revenue. Positive scissor effect: EBITDA margin improves by +20.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 118 k€, i.e. 17.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 33%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 70%. 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 2.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.9% 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 1234.90. 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 3.2x. 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: 6 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 494 days of revenue, i.e. 922 k€ to permanently finance. Over 2016-2021, WCR increased by +1042%, requiring additional financing.

Based on 98 transactions of similar company sales in 2021, the value of COMPAGNIE HOTELIERE DE CLERMONT-FERRAND is estimated at 1 263 866 € (range 885 133€ - 1 928 374€). With an EBITDA of 197 365€, the sector multiple of 8.4x is applied. The price/revenue ratio is 1.20x (premium 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.