ETABLISSEMENTS BONENFANT : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS BONENFANT achieves revenue of 45.3 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +27.3%. Significant drop of -17% vs 2023. After deducting consumption (37.1 M€), gross margin stands at 8.2 M€, i.e. a rate of 18%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.2 M€, representing 7.0% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.1 M€, i.e. 4.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 66%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.5% 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 292.67. 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 7.4x. 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: 51 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. The company must finance 27 days of gap between collections and payments. Inventory turnover is 44 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 83 days of revenue, i.e. 10.4 M€ to permanently finance.

Based on 94 transactions of similar company sales (all years), the value of ETABLISSEMENTS BONENFANT is estimated at 3 409 859 € (range 2 084 914€ - 7 189 676€). With an EBITDA of 3 172 679€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.