ETABLISSEMENTS CLERC & CARDONE : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS CLERC & CARDONE achieves revenue of 2.5 M€. Revenue is declining over the period 2016-2024 (CAGR: -7.4%). Significant drop of -64% vs 2023. After deducting consumption (1.1 M€), gross margin stands at 1.4 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 112 k€, representing 4.4% of revenue. Warning negative scissor effect: despite revenue change (-64%), EBITDA varies by -90%, reducing margin by 11.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 218 k€, i.e. 8.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 84%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.8% 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 650.93. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 331 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 4130 days. Excellent situation: suppliers finance 3799 days of the operating cycle (retail model). Overall, WCR represents 615 days of revenue, i.e. 4.3 M€ to permanently finance. Over 2016-2024, WCR increased by +85%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of ETABLISSEMENTS CLERC & CARDONE is estimated at 1 220 392 € (range 405 479€ - 2 235 806€). With an EBITDA of 111 550€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.