DOGG LABEL : revenue, balance sheet and financial ratios

In 2024, DOGG LABEL achieves revenue of 57.1 M€. Revenue is growing positively over 9 years (CAGR: +2.5%). Slight decline of -7% vs 2023. After deducting consumption (24.8 M€), gross margin stands at 32.3 M€, i.e. a rate of 57%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 11.3 M€, representing 19.7% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -23%, reducing margin by 4.1 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 8.2 M€, i.e. 14.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 81%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.2% 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 380.25. 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 3.4x. 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 99 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 320 days of revenue, i.e. 50.7 M€ to permanently finance. Over 2016-2024, WCR increased by +43%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of DOGG LABEL is estimated at 20 350 729 € (range 8 131 790€ - 43 417 409€). With an EBITDA of 11 254 501€, 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.