LES BAIGNEURS : revenue, balance sheet and financial ratios

In 2024, LES BAIGNEURS achieves revenue of 7.3 M€. Revenue is growing positively over 10 years (CAGR: +1.3%). Vs 2024, growth of +9325% (77 k€ -> 7.3 M€). After deducting consumption (4.3 M€), gross margin stands at 2.9 M€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 14.9% of revenue. Positive scissor effect: EBITDA margin improves by +311.6 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 690 k€, i.e. 9.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 47%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.6% 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 72.51. 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 3.8x. Financial charges are adequately covered by operations.

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: 38 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 24 days of revenue, i.e. 484 k€ to permanently finance. Over 2016-2024, WCR increased by +82%, requiring additional financing.

Based on 551 transactions of similar company sales in 2024, the value of LES BAIGNEURS is estimated at 3 852 961 € (range 1 523 024€ - 8 163 088€). With an EBITDA of 1 077 929€, the sector multiple of 4.7x is applied. The price/revenue ratio is 0.23x (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.