ENTREPRISE BESSENAY S.A : revenue, balance sheet and financial ratios

In 2024, ENTREPRISE BESSENAY S.A achieves revenue of 9.3 M€. Activity remains stable over the period (CAGR: -4.4%). Significant drop of -28% vs 2023. After deducting consumption (3.0 M€), gross margin stands at 6.3 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 85 k€, representing 0.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 130 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 65%. 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 3.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 1.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 585.60. 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 13.7x. 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: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. Favorable situation: supplier credit is longer than customer credit by 2 days. Inventory turnover is 155 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 166 days of revenue, i.e. 4.3 M€ to permanently finance. Notable WCR improvement over the period (-49%), freeing up cash.

Based on 113 transactions of similar company sales (all years), the value of ENTREPRISE BESSENAY S.A is estimated at 528 624 € (range 295 139€ - 1 632 735€). With an EBITDA of 85 295€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.