PEPINIERES COCKENPOT : revenue, balance sheet and financial ratios

In 2024, PEPINIERES COCKENPOT achieves revenue of 1.5 M€. Revenue is growing positively over 9 years (CAGR: +1.9%). Vs 2023: +3%. After deducting consumption (448 k€), gross margin stands at 1.1 M€, i.e. a rate of 71%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 176 k€, representing 11.5% of revenue. Positive scissor effect: EBITDA margin improves by +2.7 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 125 k€, i.e. 8.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 61%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.0% 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 258.49. 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 0.0x. 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: 46 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. Favorable situation: supplier credit is longer than customer credit by 6 days. Inventory turnover is 22 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 29 days of revenue, i.e. 125 k€ to permanently finance.

Based on 125 transactions of similar company sales (all years), the value of PEPINIERES COCKENPOT is estimated at 486 655 € (range 186 204€ - 856 791€). With an EBITDA of 176 104€, the sector multiple of 2.8x 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.