LES TOURNESOLS : revenue, balance sheet and financial ratios

In 2024, LES TOURNESOLS achieves revenue of 2.4 M€. Activity remains stable over the period (CAGR: -0.5%). Significant drop of -23% vs 2023. After deducting consumption (1.1 M€), gross margin stands at 1.3 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 156 k€, representing 6.5% of revenue. Warning negative scissor effect: despite revenue change (-23%), EBITDA varies by -68%, reducing margin by 9.2 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 142 k€, i.e. 6.0% 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 84%. 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 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 1145.17. 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 1.3x. 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: 7 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 20 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 274 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 259 days of revenue, i.e. 1.7 M€ to permanently finance. Over 2016-2024, WCR increased by +36%, requiring additional financing.

Based on 117 transactions of similar company sales in 2024, the value of LES TOURNESOLS is estimated at 758 891 € (range 461 781€ - 1 363 824€). With an EBITDA of 155 788€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (in line with sector norms). 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.