FONCIERE DE LUTECE : revenue, balance sheet and financial ratios

In 2024, FONCIERE DE LUTECE achieves revenue of 10.4 M€. Revenue is growing positively over 9 years (CAGR: +0.4%). Significant drop of -30% vs 2023. After deducting consumption (0 €), gross margin stands at 10.4 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.9 M€, representing 46.6% of revenue. Warning negative scissor effect: despite revenue change (-30%), EBITDA varies by -43%, reducing margin by 10.5 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 3.4 M€, i.e. 32.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 87%. 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 4.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 75.6% 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 1270.74. 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 13.4x. 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: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 84 days. Favorable situation: supplier credit is longer than customer credit by 10 days. Overall, WCR represents 86 days of revenue, i.e. 2.5 M€ to permanently finance. Over 2016-2024, WCR increased by +35%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of FONCIERE DE LUTECE is estimated at 20 785 359 € (range 5 966 046€ - 37 438 274€). With an EBITDA of 4 854 049€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (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.