ALS LOC : revenue, balance sheet and financial ratios

In 2025, ALS LOC achieves revenue of 3.8 M€. Over the period 2018-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +59.1%. Vs 2024, growth of +73% (2.2 M€ -> 3.8 M€). After deducting consumption (2.1 M€), gross margin stands at 1.7 M€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 154 k€, representing 4.0% of revenue. Warning negative scissor effect: despite revenue change (+73%), EBITDA varies by -32%, reducing margin by 6.2 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 102 k€, i.e. 2.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 34%. The balance between equity and debt is satisfactory. 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 3.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 137.55. 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.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 7 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 40 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 45 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 61 days of revenue, i.e. 649 k€ to permanently finance. Over 2018-2025, WCR increased by +914%, requiring additional financing.

Based on 276 transactions of similar company sales (all years), the value of ALS LOC is estimated at 3 850 325 € (range 819 046€ - 5 474 187€). With an EBITDA of 154 108€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (premium 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.