ETABLISSEMENTS L. RUSTIN : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS L. RUSTIN achieves revenue of 14.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.1%. Slight decline of -1% vs 2023. After deducting consumption (3.2 M€), gross margin stands at 10.9 M€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.2 M€, representing 15.3% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -29%, reducing margin by 6.1 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 733 k€, i.e. 5.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 7%. 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 76%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 353.79. 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 0.4x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 50 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Inventory turnover is 48 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 23 days of revenue, i.e. 917 k€ to permanently finance. Notable WCR improvement over the period (-42%), freeing up cash.

Based on 80 transactions of similar company sales (all years), the value of ETABLISSEMENTS L. RUSTIN is estimated at 2 500 146 € (range 1 041 483€ - 5 153 270€). With an EBITDA of 2 165 080€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.21x (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.