SOCIETE BAYARD ALBERT 1ER : revenue, balance sheet and financial ratios

In 2024, SOCIETE BAYARD ALBERT 1ER achieves revenue of 16.3 M€. Revenue is growing positively over 9 years (CAGR: +3.5%). Vs 2023, growth of +15% (14.1 M€ -> 16.3 M€). After deducting consumption (0 €), gross margin stands at 16.3 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 8.8 M€, representing 54.3% of revenue. Warning negative scissor effect: despite revenue change (+15%), EBITDA varies by +4%, reducing margin by 6.0 pts. This reflects costs rising faster than 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 3.8 M€, i.e. 23.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 214%. 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 30%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 13.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 29.9% 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 1724.87. 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 18.7x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. The gap of 46 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-30 days): operations structurally generate cash. Notable WCR improvement over the period (-880%), freeing up cash.

Based on 169 transactions of similar company sales in 2024, the value of SOCIETE BAYARD ALBERT 1ER is estimated at 33 876 871 € (range 9 616 898€ - 60 933 778€). With an EBITDA of 8 835 587€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.