ETS CH DAUDRUY VAN CAUWENBERGHE ET FILS : revenue, balance sheet and financial ratios

In 2024, ETS CH DAUDRUY VAN CAUWENBERGHE ET FILS achieves revenue of 159.6 M€. Revenue is growing positively over 9 years (CAGR: +1.2%). Slight decline of -5% vs 2023. After deducting consumption (125.9 M€), gross margin stands at 33.8 M€, i.e. a rate of 21%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 18.5 M€, representing 11.6% of revenue. Positive scissor effect: EBITDA margin improves by +3.7 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7.0 M€, i.e. 4.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 97%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 3.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.9% 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 505.92. 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 7.5x. 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: 29 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. Favorable situation: supplier credit is longer than customer credit by 5 days. Inventory turnover is 130 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 92 days of revenue, i.e. 40.8 M€ to permanently finance.

Based on 242 transactions of similar company sales in 2024, the value of ETS CH DAUDRUY VAN CAUWENBERGHE ET FILS is estimated at 97 974 248 € (range 53 291 767€ - 155 378 980€). With an EBITDA of 18 528 781€, the sector multiple of 6.6x is applied. The price/revenue ratio is 0.56x (in line with sector norms). 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.