LES VOUTES ET LA MER : revenue, balance sheet and financial ratios

In 2021, LES VOUTES ET LA MER achieves revenue of 584 k€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +7.3%. Vs 2020, growth of +99% (293 k€ -> 584 k€). After deducting consumption (220 k€), gross margin stands at 364 k€, i.e. a rate of 62%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 122 k€, representing 20.9% of revenue. Positive scissor effect: EBITDA margin improves by +83.7 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 73 k€, i.e. 12.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -80%. 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 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.1% 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 57.85. 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 0.2x. 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: 96 days. Excellent situation: suppliers finance 96 days of the operating cycle (retail model). Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-309 days): operations structurally generate cash. Notable WCR improvement over the period (-198%), freeing up cash.

Based on 663 transactions of similar company sales in 2021, the value of LES VOUTES ET LA MER is estimated at 602 309 € (range 348 868€ - 1 095 054€). With an EBITDA of 121 979€, the sector multiple of 5.7x is applied. The price/revenue ratio is 0.87x (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.