HCB (HOLDING CUISINE BRUNET) : revenue, balance sheet and financial ratios

In 2024, HCB (HOLDING CUISINE BRUNET) achieves revenue of 700 k€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +63.0%. Vs 2023, growth of +27% (549 k€ -> 700 k€). After deducting consumption (2 k€), gross margin stands at 697 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 52 k€, representing 7.5% of revenue. Positive scissor effect: EBITDA margin improves by +2.9 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 127 k€, i.e. 18.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 74%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 20.9% 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 173.30. 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 28.9x. 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: 93 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. The gap of 60 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 63 days of revenue, i.e. 122 k€ to permanently finance. Over 2022-2024, WCR increased by +383%, requiring additional financing.

Based on 147 transactions of similar company sales (all years), the value of HCB (HOLDING CUISINE BRUNET) is estimated at 118 146 € (range 61 445€ - 283 974€). With an EBITDA of 52 279€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.08x (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.