LUNETTERIE CHANTEPIE : revenue, balance sheet and financial ratios

In 2019, LUNETTERIE CHANTEPIE achieves revenue of 550 k€. Activity remains stable over the period (CAGR: -3.4%). Vs 2018: +0%. After deducting consumption (235 k€), gross margin stands at 316 k€, i.e. a rate of 57%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 29 k€, representing 5.2% of revenue. Warning negative scissor effect: despite revenue change (+0%), EBITDA varies by -50%, reducing margin by 5.2 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 13 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 54%. 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 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 319.80. 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 3.3x. 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: 6 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 65 days. Excellent situation: suppliers finance 59 days of the operating cycle (retail model). Inventory turnover is 98 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 145 days of revenue, i.e. 222 k€ to permanently finance. Over 2017-2019, WCR increased by +34%, requiring additional financing.

Based on 128 transactions of similar company sales in 2019, the value of LUNETTERIE CHANTEPIE is estimated at 149 507 € (range 76 993€ - 272 082€). With an EBITDA of 28 842€, the sector multiple of 4.1x is applied. The price/revenue ratio is 0.46x (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.