ENTREPRISE CASSIER : revenue, balance sheet and financial ratios

In 2024, ENTREPRISE CASSIER achieves revenue of 4.8 M€. Revenue is growing positively over 9 years (CAGR: +3.6%). Slight decline of -3% vs 2023. After deducting consumption (1.4 M€), gross margin stands at 3.4 M€, i.e. a rate of 71%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 225 k€, representing 4.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 158 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 102%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 36%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 13.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 397.51. 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 5.8x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 72 days. Favorable situation: supplier credit is longer than customer credit by 26 days. Inventory turnover is 218 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 394 days of revenue, i.e. 5.2 M€ to permanently finance. Over 2016-2024, WCR increased by +465%, requiring additional financing.

Based on 95 transactions of similar company sales (all years), the value of ENTREPRISE CASSIER is estimated at 443 764 € (range 187 893€ - 1 737 923€). With an EBITDA of 224 606€, the sector multiple of 1.4x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.