COGEDIM GRAND LYON : revenue, balance sheet and financial ratios

In 2024, COGEDIM GRAND LYON achieves revenue of 45.8 M€. Activity remains stable over the period (CAGR: -4.0%). Significant drop of -57% vs 2023. After deducting consumption (0 €), gross margin stands at 45.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.2 M€, representing 11.4% of revenue. Positive scissor effect: EBITDA margin improves by +6.3 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7.7 M€, i.e. 16.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 16.3% 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 314.48. 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 4.0x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 277 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 148 days. The gap of 129 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 256 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 134 days of revenue, i.e. 17.1 M€ to permanently finance. Notable WCR improvement over the period (-28%), freeing up cash.

Based on 80 transactions of similar company sales (all years), the value of COGEDIM GRAND LYON is estimated at 10 085 152 € (range 3 587 677€ - 27 383 194€). With an EBITDA of 5 198 156€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.28x (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.