TWO FOR BIKE 13 : revenue, balance sheet and financial ratios

In 2025, TWO FOR BIKE 13 achieves revenue of 1.7 M€. Revenue is declining over the period 2023-2025 (CAGR: -9.4%). Slight decline of -3% vs 2024. After deducting consumption (1.2 M€), gross margin stands at 526 k€, i.e. a rate of 31%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 145 k€, representing 8.6% of revenue. Positive scissor effect: EBITDA margin improves by +8.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 129 k€, i.e. 7.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 61%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 242.59. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. Excellent situation: suppliers finance 45 days of the operating cycle (retail model). Inventory turnover is 97 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 97 days of revenue, i.e. 454 k€ to permanently finance.

Based on 239 transactions of similar company sales (all years), the value of TWO FOR BIKE 13 is estimated at 507 073 € (range 226 364€ - 888 946€). With an EBITDA of 145 141€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.28x (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.