BERNARD LEFEBVRE MAINTENANCE : revenue, balance sheet and financial ratios

In 2024, BERNARD LEFEBVRE MAINTENANCE achieves revenue of 313 k€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +20.5%. Vs 2023: +10%. After deducting consumption (60 k€), gross margin stands at 253 k€, i.e. a rate of 81%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 28 k€, representing 9.1% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by -25%, reducing margin by 4.1 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 20 k€, i.e. 6.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.8% 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 209.13. 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 0.1x. 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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 76 days. Favorable situation: supplier credit is longer than customer credit by 16 days. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-4 days): operations structurally generate cash. Notable WCR improvement over the period (-115%), freeing up cash.

Based on 104 transactions of similar company sales (all years), the value of BERNARD LEFEBVRE MAINTENANCE is estimated at 45 105 € (range 27 005€ - 130 716€). With an EBITDA of 28 372€, the sector multiple of 1.0x 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.