VIGNERONS D'EXCEPTION : revenue, balance sheet and financial ratios

In 2024, VIGNERONS D'EXCEPTION achieves revenue of 1.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.8%. Slight decline of -3% vs 2023. After deducting consumption (924 k€), gross margin stands at 591 k€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 119 k€, representing 7.8% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -32%, reducing margin by 3.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 95 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 75%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.0% 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 451.89. 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 0.2x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 40 days. Excellent situation: suppliers finance 39 days of the operating cycle (retail model). Inventory turnover is 213 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 203 days of revenue, i.e. 852 k€ to permanently finance. Over 2016-2024, WCR increased by +123%, requiring additional financing.

Based on 121 transactions of similar company sales (all years), the value of VIGNERONS D'EXCEPTION is estimated at 383 167 € (range 176 993€ - 894 438€). With an EBITDA of 118 561€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.