ETABLISSEMENTS BODIN ET FILS : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS BODIN ET FILS achieves revenue of 58.6 M€. Revenue is growing positively over 9 years (CAGR: +2.5%). Slight decline of -4% vs 2023. After deducting consumption (33.2 M€), gross margin stands at 25.4 M€, i.e. a rate of 43%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.5 M€, representing 12.8% of revenue. Positive scissor effect: EBITDA margin improves by +5.3 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7.8 M€, i.e. 13.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. 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 33%. The balance between equity and debt is satisfactory. 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 9.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 173.91. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 11 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 46 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 89 days of revenue, i.e. 14.4 M€ to permanently finance. Over 2016-2024, WCR increased by +64%, requiring additional financing.

Based on 164 transactions of similar company sales (all years), the value of ETABLISSEMENTS BODIN ET FILS is estimated at 22 790 322 € (range 9 771 974€ - 51 798 712€). With an EBITDA of 7 532 804€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.26x (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.