SOCIETE COOPERATIVE AGRICOLE LES VIGNERONS DES TERRES SECRETES : revenue, balance sheet and financial ratios

In 2024, SOCIETE COOPERATIVE AGRICOLE LES VIGNERONS DES TERRES SECRETES achieves revenue of 31.1 M€. Revenue is growing positively over 9 years (CAGR: +3.3%). Slight decline of -7% vs 2023. After deducting consumption (24.2 M€), gross margin stands at 6.9 M€, i.e. a rate of 22%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 595 k€, representing 1.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 572 k€, i.e. 1.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 60%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 29%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 12.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 130.92. 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 15.5x. 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: 70 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 31 days. The gap of 39 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 232 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 100 days of revenue, i.e. 8.6 M€ to permanently finance. Notable WCR improvement over the period (-56%), freeing up cash.

Based on 55 transactions of similar company sales (all years), the value of SOCIETE COOPERATIVE AGRICOLE LES VIGNERONS DES TERRES SECRETES is estimated at 4 202 231 € (range 2 258 354€ - 10 242 193€). With an EBITDA of 594 669€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.