FERME DES VOLONTEUX : revenue, balance sheet and financial ratios

In 2024, FERME DES VOLONTEUX achieves revenue of 1.1 M€. Activity remains stable over the period (CAGR: -1.0%). Slight decline of -3% vs 2023. After deducting consumption (491 k€), gross margin stands at 607 k€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 159 k€, representing 14.5% of revenue. Positive scissor effect: EBITDA margin improves by +15.6 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 69 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 377%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 11.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 203.63. 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 10.7x. 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: 12 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Excellent situation: suppliers finance 45 days of the operating cycle (retail model). Inventory turnover is 59 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 103 days of revenue, i.e. 313 k€ to permanently finance. Over 2018-2024, WCR increased by +326%, requiring additional financing.

Based on 138 transactions of similar company sales (all years), the value of FERME DES VOLONTEUX is estimated at 436 146 € (range 149 566€ - 738 015€). With an EBITDA of 158 968€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.