VAL DE GASCOGNE : revenue, balance sheet and financial ratios

VAL DE GASCOGNE is a French company founded 34 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail . Based in SAINTE-CHRISTIE (32390), this company of category ETI shows in 2022 a revenue of 51.1 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - VAL DE GASCOGNE (SIREN 382063717)
Indicator 2022 2021 2020 2019 2017 2016
Revenue 51 103 006 € 129 725 263 € 127 731 998 € 117 778 160 € 139 419 145 € 142 853 080 €
Net income 814 009 € 323 606 € 1 037 986 € -527 524 € -1 299 541 € -2 371 688 €
EBITDA 51 103 006 € 2 615 029 € 5 018 346 € 4 380 015 € 3 023 787 € -798 574 €
Net margin 1.6% 0.2% 0.8% -0.4% -0.9% -1.7%

Revenue and income statement

In 2022, VAL DE GASCOGNE achieves revenue of 51.1 M€. Revenue is declining over the period 2016-2022 (CAGR: -15.7%). Significant drop of -61% vs 2021. After deducting consumption (0 €), gross margin stands at 51.1 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 51.1 M€, representing 100.0% of revenue. Positive scissor effect: EBITDA margin improves by +98.0 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 814 k€, i.e. 1.6% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

51 103 006 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

51 103 006 €

EBITDA (2022) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

51 103 006 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

814 009 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

100.0%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 49%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 16.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

49.198%

Financial autonomy (2022) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

43.469%

Cash flow / Revenue (2022) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

1.503%

Repayment capacity (2022) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

16.507

Asset age ratio (2022) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

18.3%

Solvency indicators evolution
VAL DE GASCOGNE

Sector positioning

Debt ratio
49.2 2022
2020
2021
2022
Q1: 6.9
Med: 50.33
Q3: 144.41
Good

In 2022, the debt ratio of VAL DE GASCOGNE (49.20) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
43.47% 2022
2020
2021
2022
Q1: 16.66%
Med: 35.27%
Q3: 54.95%
Good

In 2022, the financial autonomy of VAL DE GASCOGNE (43.5%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
16.51 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 1.52 years
Q3: 5.98 years
Average +10 pts over 3 years

In 2022, the repayment capacity of VAL DE GASCOGNE (16.51) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 201.99. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.

Liquidity ratio (2022) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

201.99

Interest coverage (2022) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

1.052

Liquidity indicators evolution
VAL DE GASCOGNE

Sector positioning

Liquidity ratio
201.99 2022
2020
2021
2022
Q1: 130.7
Med: 204.55
Q3: 314.0
Average +16 pts over 3 years

In 2022, the liquidity ratio of VAL DE GASCOGNE (201.99) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
1.05x 2022
2020
2021
2022
Q1: 0.0x
Med: 3.22x
Q3: 12.9x
Average -35 pts over 3 years

In 2022, the interest coverage of VAL DE GASCOGNE (1.1x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 62 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 0 days. The gap of 62 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 412 days of revenue, i.e. 58.4 M€ to permanently finance. Over 2016-2022, WCR increased by +33%, requiring additional financing.

Operating WCR (2022) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

58 433 221 €

Customer credit (2022) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

62 j

Supplier credit (2022) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

0 j

Inventory turnover (2022) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2022) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

412 j

WCR and payment terms evolution
VAL DE GASCOGNE

Positioning of VAL DE GASCOGNE in its sector

Comparison with sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail

Valuation estimate

Based on 94 transactions of similar company sales (all years), the value of VAL DE GASCOGNE is estimated at 15 004 918 € (range 9 021 486€ - 56 526 611€). With an EBITDA of 51 103 006€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.

Estimated enterprise value 2022
94 tx
9021k€ 15004k€ 56526k€
15 004 918 € Range: 9 021 486€ - 56 526 611€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
51 103 006 € × 0.5x
Estimation 24 921 603 €
14 715 038€ - 106 545 245€
Revenue Multiple 30%
51 103 006 € × 0.15x
Estimation 7 722 819 €
5 241 444€ - 8 866 348€
Net Income Multiple 20%
814 009 € × 1.4x
Estimation 1 136 354 €
457 669€ - 2 970 425€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 94 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail )

Compare VAL DE GASCOGNE with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail

Frequently asked questions about VAL DE GASCOGNE

What is the revenue of VAL DE GASCOGNE ?

The revenue of VAL DE GASCOGNE in 2022 is 51.1 M€.

Is VAL DE GASCOGNE profitable?

Yes, VAL DE GASCOGNE generated a net profit of 814 k€ in 2022.

Where is the headquarters of VAL DE GASCOGNE ?

The headquarters of VAL DE GASCOGNE is located in SAINTE-CHRISTIE (32390), in the department Gers.

Where to find the tax return of VAL DE GASCOGNE ?

The tax return of VAL DE GASCOGNE is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does VAL DE GASCOGNE operate?

VAL DE GASCOGNE operates in the sector Commerce de gros (commerce interentreprises) de céréales, de tabac non manufacturé, de semences et d'aliments pour le bétail (NAF code 46.21Z). See the 'Sector positioning' section above to compare the company with its competitors.