LIMOUSIN TRANSPORT SERVICES EXPRESS : revenue, balance sheet and financial ratios

In 2024, LIMOUSIN TRANSPORT SERVICES EXPRESS achieves revenue of 295 k€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.8%. Significant drop of -12% vs 2023. After deducting consumption (0 €), gross margin stands at 295 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 27 k€, representing 9.2% of revenue. Warning negative scissor effect: despite revenue change (-12%), EBITDA varies by -62%, reducing margin by 12.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 12 k€, i.e. 4.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 12%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 503.02. 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 22.1x. 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: 18 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 21 days. Favorable situation: supplier credit is longer than customer credit by 3 days. Overall, WCR represents 6 days of revenue, i.e. 5 k€ to permanently finance. Over 2017-2024, WCR increased by +207%, requiring additional financing.

Based on 71 transactions of similar company sales in 2024, the value of LIMOUSIN TRANSPORT SERVICES EXPRESS is estimated at 40 483 € (range 19 283€ - 104 747€). With an EBITDA of 27 187€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.23x (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.