SOCIETE D'INNOVATION CULINAIRE : revenue, balance sheet and financial ratios

In 2024, SOCIETE D'INNOVATION CULINAIRE achieves revenue of 73.6 M€. Revenue is growing positively over 9 years (CAGR: +1.8%). Slight decline of -7% vs 2023. After deducting consumption (53.8 M€), gross margin stands at 19.8 M€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.6 M€, representing 3.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.2 M€, i.e. 1.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 14%. 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 71%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 220.69. 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 1.8x. 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: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 25 days. Favorable situation: supplier credit is longer than customer credit by 3 days. Inventory turnover is 16 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 50 days of revenue, i.e. 10.2 M€ to permanently finance. Over 2016-2024, WCR increased by +93%, requiring additional financing.

Based on 108 transactions of similar company sales (all years), the value of SOCIETE D'INNOVATION CULINAIRE is estimated at 11 510 327 € (range 6 262 767€ - 23 338 332€). With an EBITDA of 2 614 998€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.26x (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.