ETABLISSEMENT LEMARDELE : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENT LEMARDELE achieves revenue of 14.5 M€. Revenue is growing positively over 8 years (CAGR: +4.9%). Significant drop of -16% vs 2023. After deducting consumption (12.0 M€), gross margin stands at 2.5 M€, i.e. a rate of 17%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 320 k€, representing 2.2% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -61%, reducing margin by 2.6 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 229 k€, i.e. 1.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 45%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 55%. 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 5.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 350.49. 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 36.0x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 37 days. The company must finance 28 days of gap between collections and payments. Inventory turnover is 54 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 137 days of revenue, i.e. 5.5 M€ to permanently finance. Over 2017-2024, WCR increased by +63%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of ETABLISSEMENT LEMARDELE is estimated at 800 305 € (range 518 603€ - 1 256 854€). With an EBITDA of 320 223€, 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.