DL BATIMENT : revenue, balance sheet and financial ratios

In 2023, DL BATIMENT achieves revenue of 2.0 M€. Revenue is growing positively over 8 years (CAGR: +1.7%). Vs 2022, growth of +120% (896 k€ -> 2.0 M€). After deducting consumption (197 k€), gross margin stands at 1.8 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 148 k€, representing 7.5% of revenue. Positive scissor effect: EBITDA margin improves by +95.1 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 124 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -42%. 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 -70%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.6% 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 65.46. 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 4.8x. 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: 141 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 95 days. The gap of 46 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 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-58 days): operations structurally generate cash. Notable WCR improvement over the period (-141%), freeing up cash.

Based on 113 transactions of similar company sales (all years), the value of DL BATIMENT is estimated at 397 052 € (range 168 108€ - 827 638€). With an EBITDA of 148 275€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.