ETABLISSEMENTS GRINHARD FRERES : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS GRINHARD FRERES achieves revenue of 4.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.7%. Slight decline of -8% vs 2023. After deducting consumption (1.3 M€), gross margin stands at 2.8 M€, i.e. a rate of 69%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 255 k€, representing 6.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.1 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 156 k€, i.e. 3.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 21%. 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 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 174.58. 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 1.6x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 94 days. Excellent situation: suppliers finance 31 days of the operating cycle (retail model). Inventory turnover is 25 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 71 days of revenue, i.e. 805 k€ to permanently finance. Notable WCR improvement over the period (-34%), freeing up cash.

Based on 51 transactions of similar company sales in 2024, the value of ETABLISSEMENTS GRINHARD FRERES is estimated at 478 731 € (range 242 599€ - 714 603€). With an EBITDA of 255 377€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.14x (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.