ELM LEBLANC SAS : revenue, balance sheet and financial ratios

ELM LEBLANC SAS is a French company founded 72 years ago, specialized in the sector Fabrication de radiateurs et de chaudières pour le chauffage central. Based in DRANCY (93700), this company of category GE shows in 2024 a revenue of 154.2 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - ELM LEBLANC SAS (SIREN 542097944)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 154 246 387 € 179 560 616 € 176 182 854 € 190 940 512 € 162 699 781 € 170 750 700 € 186 043 224 € 191 642 387 € 183 082 593 €
Net income -3 521 178 € -28 914 107 € -6 051 407 € -6 655 950 € -3 833 265 € -6 396 503 € -8 643 859 € 2 066 999 € -4 385 299 €
EBITDA -4 189 621 € -11 274 059 € -9 991 403 € -1 921 158 € -260 212 € -1 183 683 € -3 322 713 € 3 244 880 € 516 554 €
Net margin -2.3% -16.1% -3.4% -3.5% -2.4% -3.7% -4.6% 1.1% -2.4%

Revenue and income statement

In 2024, ELM LEBLANC SAS achieves revenue of 154.2 M€. Activity remains stable over the period (CAGR: -2.1%). Significant drop of -14% vs 2023. After deducting consumption (63.5 M€), gross margin stands at 90.8 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 -4.2 M€, representing -2.7% of revenue. Positive scissor effect: EBITDA margin improves by +3.6 pts, sign of improved operational efficiency. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -3.5 M€ (-2.3% of revenue), which will impact equity.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

154 246 387 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

90 792 002 €

EBITDA (2024) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

-4 189 621 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-2 724 827 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-3 521 178 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-2.7%

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 12%. 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 24%. The balance between equity and debt is satisfactory.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

11.593%

Financial autonomy (2024) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

24.082%

Cash flow / Revenue (2024) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

-3.739%

Repayment capacity (2024) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

-0.471

Asset age ratio (2024) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

29.3%

Solvency indicators evolution
ELM LEBLANC SAS

Sector positioning

Debt ratio
11.59 2024
2022
2023
2024
Q1: 0.18
Med: 7.92
Q3: 47.3
Average -34 pts over 3 years

In 2024, the debt ratio of ELM LEBLANC SAS (11.59) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
24.08% 2024
2022
2023
2024
Q1: 15.19%
Med: 27.14%
Q3: 43.11%
Average +19 pts over 3 years

In 2024, the financial autonomy of ELM LEBLANC SAS (24.1%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
-0.47 years 2024
2022
2023
2024
Q1: -0.99 years
Med: -0.47 years
Q3: 0.0 years
Good +26 pts over 3 years

In 2024, the repayment capacity of ELM LEBLANC SAS (-0.47) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 224.87. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2024) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

224.866

Interest coverage (2024) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

-25.074

Liquidity indicators evolution
ELM LEBLANC SAS

Sector positioning

Liquidity ratio
224.87 2024
2022
2023
2024
Q1: 122.51
Med: 159.2
Q3: 215.35
Excellent +24 pts over 3 years

In 2024, the liquidity ratio of ELM LEBLANC SAS (224.87) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
-25.07x 2024
2022
2023
2024
Q1: -25.07x
Med: 0.0x
Q3: 14.65x
Average +5 pts over 3 years

In 2024, the interest coverage of ELM LEBLANC SAS (-25.1x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 62 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 58 days. The company must finance 4 days of gap between collections and payments. Inventory turnover is 75 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 114 days of revenue, i.e. 48.7 M€ to permanently finance. Over 2016-2024, WCR increased by +33%, requiring additional financing.

Operating WCR (2024) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

48 670 905 €

Customer credit (2024) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

62 j

Supplier credit (2024) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

58 j

Inventory turnover (2024) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

75 j

WCR in days of revenue (2024) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

114 j

WCR and payment terms evolution
ELM LEBLANC SAS

Positioning of ELM LEBLANC SAS in its sector

Comparison with sector Fabrication de radiateurs et de chaudières pour le chauffage central

Valuation estimate

Based on 276 transactions of similar company sales (all years), the value of ELM LEBLANC SAS is estimated at 28 493 980 € (range 16 432 814€ - 53 587 634€). The price/revenue ratio is 0.18x (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.

Estimated enterprise value 2024
276 transactions
16432k€ 28493k€ 53587k€
28 493 980 € Range: 16 432 814€ - 53 587 634€
Section all-time Aggregated at NAF section level

Valuation method used

Revenue Multiple
154 246 387 € × 0.18x = 28 493 981 €
Range: 16 432 814€ - 53 587 635€

Only this financial indicator is available for this company.

How is this estimate calculated?

This estimate is based on the analysis of 276 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Fabrication de radiateurs et de chaudières pour le chauffage central)

Compare ELM LEBLANC SAS with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de radiateurs et de chaudières pour le chauffage central

Frequently asked questions about ELM LEBLANC SAS

What is the revenue of ELM LEBLANC SAS ?

The revenue of ELM LEBLANC SAS in 2024 is 154.2 M€.

Is ELM LEBLANC SAS profitable?

ELM LEBLANC SAS recorded a net loss in 2024.

Where is the headquarters of ELM LEBLANC SAS ?

The headquarters of ELM LEBLANC SAS is located in DRANCY (93700), in the department Seine-Saint-Denis.

Where to find the tax return of ELM LEBLANC SAS ?

The tax return of ELM LEBLANC SAS is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does ELM LEBLANC SAS operate?

ELM LEBLANC SAS operates in the sector Fabrication de radiateurs et de chaudières pour le chauffage central (NAF code 25.21Z). See the 'Sector positioning' section above to compare the company with its competitors.