ETABLISSEMENTS DUNY : revenue, balance sheet and financial ratios

In 2022, ETABLISSEMENTS DUNY achieves revenue of 6.3 M€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +12.7%. Vs 2021, growth of +45% (4.4 M€ -> 6.3 M€). After deducting consumption (3.6 M€), gross margin stands at 2.8 M€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 210 k€, representing 3.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.2 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 6 k€, i.e. 0.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 53%. 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 9.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 230.20. 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 29.3x. 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 88 days. Excellent situation: suppliers finance 83 days of the operating cycle (retail model). Inventory turnover is 159 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 196 days of revenue, i.e. 3.5 M€ to permanently finance. Over 2016-2022, WCR increased by +117%, requiring additional financing.

Based on 185 transactions of similar company sales (all years), the value of ETABLISSEMENTS DUNY is estimated at 884 701 € (range 390 270€ - 2 268 048€). With an EBITDA of 210 000€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.28x (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.