GCK SAINT-MALO : revenue, balance sheet and financial ratios

In 2024, GCK SAINT-MALO achieves revenue of 5.4 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.7%. Vs 2023, growth of +31% (4.1 M€ -> 5.4 M€). After deducting consumption (4.6 M€), gross margin stands at 805 k€, i.e. a rate of 15%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 60 k€, representing 1.1% of revenue. 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 251%. 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 16%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 41.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 203.01. 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 51.0x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. Excellent situation: suppliers finance 54 days of the operating cycle (retail model). Inventory turnover is 109 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 156 days of revenue, i.e. 2.3 M€ to permanently finance. Over 2015-2024, WCR increased by +355%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of GCK SAINT-MALO is estimated at 311 433 € (range 138 396€ - 540 438€). With an EBITDA of 59 900€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.