CENTRE NATIONAL DE FORMATION AUX METIERS DU JEU ET DU JOUET : revenue, balance sheet and financial ratios

In 2024, CENTRE NATIONAL DE FORMATION AUX METIERS DU JEU ET DU JOUET achieves revenue of 599 k€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.2%. Vs 2023: +5%. After deducting consumption (2 k€), gross margin stands at 597 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 2 k€, representing 0.4% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -89%, 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 7 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 54%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 50%. 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 9.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 465.30. 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 152.3x. 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: 101 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 23 days. The gap of 78 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 92 days of revenue, i.e. 154 k€ to permanently finance. Over 2018-2024, WCR increased by +537%, requiring additional financing.

Based on 134 transactions of similar company sales (all years), the value of CENTRE NATIONAL DE FORMATION AUX METIERS DU JEU ET DU JOUET is estimated at 70 864 € (range 23 875€ - 154 042€). With an EBITDA of 2 388€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.36x (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.