ELIARD-S.P.C.P. : revenue, balance sheet and financial ratios

In 2025, ELIARD-S.P.C.P. achieves revenue of 49.7 M€. Revenue is growing positively over 9 years (CAGR: +4.2%). Slight decline of -9% vs 2024. After deducting consumption (38.6 M€), gross margin stands at 11.1 M€, i.e. a rate of 22%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 2.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 421 k€, i.e. 0.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 32%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 60%. 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 7.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 336.39. 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 35.4x. 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: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. Favorable situation: supplier credit is longer than customer credit by 19 days. Inventory turnover is 129 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 169 days of revenue, i.e. 23.4 M€ to permanently finance. Over 2017-2025, WCR increased by +82%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of ELIARD-S.P.C.P. is estimated at 2 700 193 € (range 1 771 033€ - 4 303 915€). With an EBITDA of 1 352 622€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.