SARL BEARN FRIGO ROUTE : revenue, balance sheet and financial ratios

In 2024, SARL BEARN FRIGO ROUTE achieves revenue of 612 k€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.4%. Slight decline of -0% vs 2023. After deducting consumption (256 k€), gross margin stands at 356 k€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 33 k€, representing 5.4% of revenue. Positive scissor effect: EBITDA margin improves by +3.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 13 k€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 181.26. 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 5.8x. 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: 42 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 93 days. Excellent situation: suppliers finance 51 days of the operating cycle (retail model). Inventory turnover is 104 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 131 days of revenue, i.e. 223 k€ to permanently finance. Over 2017-2024, WCR increased by +213%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of SARL BEARN FRIGO ROUTE is estimated at 69 686 € (range 40 247€ - 192 896€). With an EBITDA of 33 027€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.27x (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.