LES SENS EN EVEIL : revenue, balance sheet and financial ratios

In 2019, LES SENS EN EVEIL achieves revenue of 751 k€. Activity remains stable over the period (CAGR: -0.7%). Vs 2018: +1%. After deducting consumption (383 k€), gross margin stands at 368 k€, i.e. a rate of 49%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 54 k€, representing 7.1% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -25%, reducing margin by 2.4 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 29 k€, i.e. 3.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 53%. 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 0.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 114.00. 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 0.6x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 117 days. Excellent situation: suppliers finance 117 days of the operating cycle (retail model). Inventory turnover is 34 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 45 days of revenue, i.e. 94 k€ to permanently finance. Over 2016-2019, WCR increased by +65%, requiring additional financing.

Based on 132 transactions of similar company sales (all years), the value of LES SENS EN EVEIL is estimated at 189 149 € (range 100 996€ - 365 929€). With an EBITDA of 53 660€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.35x (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.