LES MANCELIERES : revenue, balance sheet and financial ratios

In 2024, LES MANCELIERES achieves revenue of 595 k€. Revenue is growing positively over 6 years (CAGR: +3.0%). Slight decline of -4% vs 2023. After deducting consumption (48 k€), gross margin stands at 548 k€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 200 k€, representing 33.6% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -15%, reducing margin by 4.7 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 97 k€, i.e. 16.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 65%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 28.9% 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 916.55. 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 1.5x. Coverage is limited: any activity downturn would jeopardize interest payments.

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). Overall, WCR represents 12 days of revenue, i.e. 20 k€ to permanently finance. Notable WCR improvement over the period (-83%), freeing up cash.

Based on 153 transactions of similar company sales (all years), the value of LES MANCELIERES is estimated at 1 141 769 € (range 595 287€ - 1 778 824€). With an EBITDA of 199 858€, the sector multiple of 7.1x is applied. The price/revenue ratio is 1.61x (premium 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.