LES ATELIERS JOAILLIERS LOUIS VUITTON : revenue, balance sheet and financial ratios

In 2024, LES ATELIERS JOAILLIERS LOUIS VUITTON achieves revenue of 223.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +24.2%. Significant drop of -13% vs 2023. After deducting consumption (101.2 M€), gross margin stands at 121.8 M€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 20.8 M€, representing 9.3% of revenue. Warning negative scissor effect: despite revenue change (-13%), EBITDA varies by -44%, reducing margin by 5.1 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 6.4 M€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 244%. 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 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 1180.93. 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 41.2x. 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: 13 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 31 days. Favorable situation: supplier credit is longer than customer credit by 18 days. Inventory turnover is 353 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 388 days of revenue, i.e. 240.2 M€ to permanently finance. Over 2016-2024, WCR increased by +1047%, requiring additional financing.

Based on 101 transactions of similar company sales (all years), the value of LES ATELIERS JOAILLIERS LOUIS VUITTON is estimated at 45 766 340 € (range 15 877 098€ - 84 695 717€). With an EBITDA of 20 838 000€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.24x (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.