CRAS NAUTIQUE PAIMPOL : revenue, balance sheet and financial ratios

In 2024, CRAS NAUTIQUE PAIMPOL achieves revenue of 2.0 M€. Revenue is growing positively over 4 years (CAGR: +0.8%). Significant drop of -33% vs 2023. After deducting consumption (1.3 M€), gross margin stands at 704 k€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 85 k€, representing 4.3% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 25 k€, i.e. 1.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 266%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 8.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 159.55. 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 20.6x. 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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 88 days. Excellent situation: suppliers finance 64 days of the operating cycle (retail model). Inventory turnover is 93 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 123 days of revenue, i.e. 678 k€ to permanently finance.

Based on 87 transactions of similar company sales (all years), the value of CRAS NAUTIQUE PAIMPOL is estimated at 449 147 € (range 195 017€ - 1 077 609€). With an EBITDA of 84 651€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.57x (in line with sector norms). 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.