PIERRETTE T.B.A. : revenue, balance sheet and financial ratios

In 2024, PIERRETTE T.B.A. achieves revenue of 67.6 M€. Revenue is growing positively over 7 years (CAGR: +2.5%). Vs 2023: +0%. After deducting consumption (5.1 M€), gross margin stands at 62.5 M€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 17.0 M€, representing 25.2% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 5.9 M€, i.e. 8.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. 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 87%. 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 23.7% 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 144.31. 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 3.4x. 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: 10 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. Excellent situation: suppliers finance 71 days of the operating cycle (retail model). Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-89 days): operations structurally generate cash. Notable WCR improvement over the period (-152%), freeing up cash.

Based on 69 transactions of similar company sales (all years), the value of PIERRETTE T.B.A. is estimated at 54 787 434 € (range 23 906 884€ - 117 558 492€). With an EBITDA of 17 044 773€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.40x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.