GILBERT SPORTS : revenue, balance sheet and financial ratios

In 2024, GILBERT SPORTS achieves revenue of 1.3 M€. Activity remains stable over the period (CAGR: -3.5%). Slight decline of -4% vs 2023. After deducting consumption (256 k€), gross margin stands at 1.0 M€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 145 k€, representing 11.4% of revenue. Positive scissor effect: EBITDA margin improves by +5.0 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 54 k€, i.e. 4.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 79%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 9.6% 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 165.63. 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 34.0x. 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: 11 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 77 days. Excellent situation: suppliers finance 66 days of the operating cycle (retail model). Inventory turnover is 47 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 285 days of revenue, i.e. 1.0 M€ to permanently finance.

Based on 87 transactions of similar company sales (all years), the value of GILBERT SPORTS is estimated at 410 135 € (range 149 004€ - 980 651€). With an EBITDA of 144 680€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.57x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.