SASU ATELIER J.A.D : revenue, balance sheet and financial ratios

In 2024, SASU ATELIER J.A.D achieves revenue of 349 k€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +44.6%. Significant drop of -12% vs 2023. After deducting consumption (252 k€), gross margin stands at 97 k€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 13 k€, representing 3.7% of revenue. Warning negative scissor effect: despite revenue change (-12%), EBITDA varies by -68%, reducing margin by 6.5 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 7 k€, i.e. 2.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 3.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 340.69. 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 1.3x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 39 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 7 days. The gap of 32 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 69 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 78 days of revenue, i.e. 75 k€ to permanently finance. Over 2021-2024, WCR increased by +3675%, requiring additional financing.

Based on 101 transactions of similar company sales (all years), the value of SASU ATELIER J.A.D is estimated at 44 913 € (range 17 431€ - 82 814€). With an EBITDA of 12 978€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.24x (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.