UN CROISETTE : revenue, balance sheet and financial ratios

In 2024, UN CROISETTE achieves revenue of 671 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.6%. Vs 2023: +6%. After deducting consumption (0 €), gross margin stands at 671 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 401 k€, representing 59.8% of revenue. Warning negative scissor effect: despite revenue change (+6%), EBITDA varies by -31%, reducing margin by 31.5 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 10 k€, i.e. 1.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 75016%. 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 0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 147.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 8.2% 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 23324.66. 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 125.6x. 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: 90 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 2 days. The gap of 88 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 2382 days of revenue, i.e. 4.4 M€ to permanently finance. Over 2016-2024, WCR increased by +3456%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of UN CROISETTE is estimated at 1 300 034 € (range 363 685€ - 2 333 772€). With an EBITDA of 401 498€, 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.