STONE RIVIERA : revenue, balance sheet and financial ratios

In 2025, STONE RIVIERA achieves revenue of 200 k€. Revenue is declining over the period 2016-2025 (CAGR: -17.6%). Significant drop of -67% vs 2024. After deducting consumption (150 k€), gross margin stands at 50 k€, i.e. a rate of 25%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 29 k€, representing 14.3% of revenue. Warning negative scissor effect: despite revenue change (-67%), EBITDA varies by -74%, reducing margin by 3.8 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3 k€, 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 629%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 514.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 10583.16. 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 84.9x. 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: 18 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. Excellent situation: suppliers finance 42 days of the operating cycle (retail model). Inventory turnover is 3542 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 3561 days of revenue, i.e. 2.0 M€ to permanently finance. Notable WCR improvement over the period (-58%), freeing up cash.

Based on 258 transactions of similar company sales (all years), the value of STONE RIVIERA is estimated at 113 575 € (range 47 685€ - 209 799€). With an EBITDA of 28 630€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.65x (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.