KING MARCEL CHEVREUL : revenue, balance sheet and financial ratios

In 2022, KING MARCEL CHEVREUL achieves revenue of 767 k€. Revenue is growing positively over 5 years (CAGR: +0.3%). Significant drop of -20% vs 2021. After deducting consumption (210 k€), gross margin stands at 557 k€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 55 k€, representing 7.1% of revenue. Warning negative scissor effect: despite revenue change (-20%), EBITDA varies by -42%, reducing margin by 2.6 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 8 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 421%. 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 11.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.5% 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 264.67. 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 11.0x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 3 days of revenue, i.e. 7 k€ to permanently finance.

Based on 833 transactions of similar company sales in 2022, the value of KING MARCEL CHEVREUL is estimated at 338 674 € (range 191 683€ - 585 529€). With an EBITDA of 54 713€, the sector multiple of 4.1x is applied. The price/revenue ratio is 0.96x (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.