SA QUEVEN CARAVANES : revenue, balance sheet and financial ratios

In 2024, SA QUEVEN CARAVANES achieves revenue of 20.0 M€. Revenue is growing positively over 9 years (CAGR: +4.2%). Vs 2023: +7%. After deducting consumption (16.0 M€), gross margin stands at 4.0 M€, i.e. a rate of 20%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 687 k€, representing 3.4% of revenue. Warning negative scissor effect: despite revenue change (+7%), EBITDA varies by -37%, reducing margin by 2.4 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 244 k€, i.e. 1.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 256%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 21%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 16.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 332.00. 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 35.1x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 46 days. Excellent situation: suppliers finance 41 days of the operating cycle (retail model). Inventory turnover is 250 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 237 days of revenue, i.e. 13.1 M€ to permanently finance. Over 2016-2024, WCR increased by +160%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of SA QUEVEN CARAVANES is estimated at 1 064 619 € (range 627 145€ - 4 013 922€). With an EBITDA of 686 754€, the sector multiple of 0.8x is applied. The price/revenue ratio is 0.13x (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.