DELAHAYE INDUSTRIES : revenue, balance sheet and financial ratios

In 2024, DELAHAYE INDUSTRIES achieves revenue of 22.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.6%. Slight decline of -8% vs 2023. After deducting consumption (9.0 M€), gross margin stands at 13.2 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 5.2% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -46%, reducing margin by 3.6 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -91 k€ (-0.4% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 138.80. 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 7.1x. 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: 82 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 99 days. Favorable situation: supplier credit is longer than customer credit by 17 days. Inventory turnover is 37 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 97 days of revenue, i.e. 6.0 M€ to permanently finance. Over 2016-2024, WCR increased by +48%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of DELAHAYE INDUSTRIES is estimated at 1 822 852 € (range 1 047 258€ - 3 090 662€). With an EBITDA of 1 153 393€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.