VF J FRANCE : revenue, balance sheet and financial ratios

In 2025, VF J FRANCE achieves revenue of 307.8 M€. Revenue is growing positively over 9 years (CAGR: +4.9%). Slight decline of -2% vs 2024. After deducting consumption (244.3 M€), gross margin stands at 63.5 M€, i.e. a rate of 21%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 9.1 M€, representing 2.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.7 M€, 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 47%. 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 3.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 222.98. 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 19.0x. 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: 75 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 48 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 10 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 72 days of revenue, i.e. 61.3 M€ to permanently finance.

Based on 124 transactions of similar company sales (all years), the value of VF J FRANCE is estimated at 29 215 890 € (range 13 358 303€ - 72 837 330€). With an EBITDA of 9 063 723€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.17x (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.