LA TONNELLERIE DES DOMAINES : revenue, balance sheet and financial ratios

In 2018, LA TONNELLERIE DES DOMAINES achieves revenue of 1.4 M€. Revenue is declining over the period 2016-2018 (CAGR: -5.1%). Vs 2017, growth of +19% (1.2 M€ -> 1.4 M€). After deducting consumption (728 k€), gross margin stands at 719 k€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 187 k€, representing 12.9% of revenue. Warning negative scissor effect: despite revenue change (+19%), EBITDA varies by -73%, reducing margin by 44.5 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 102 k€, i.e. 7.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 23%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 65%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 19.9% 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 857.68. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 158 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. The gap of 96 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 450 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 609 days of revenue, i.e. 2.4 M€ to permanently finance.

Based on 103 transactions of similar company sales (all years), the value of LA TONNELLERIE DES DOMAINES is estimated at 439 356 € (range 201 732€ - 1 011 273€). With an EBITDA of 187 224€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.30x (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.