HERDING FRANCE : revenue, balance sheet and financial ratios

In 2024, HERDING FRANCE achieves revenue of 2.8 M€. Revenue is growing positively over 9 years (CAGR: +3.4%). Significant drop of -30% vs 2023. After deducting consumption (1.6 M€), gross margin stands at 1.2 M€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 104 k€, representing 3.8% of revenue. Warning negative scissor effect: despite revenue change (-30%), EBITDA varies by -60%, reducing margin by 2.7 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 81 k€, i.e. 2.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 39%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 194.57. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 83 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 73 days of revenue, i.e. 565 k€ to permanently finance. Notable WCR improvement over the period (-32%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 181 329€ to 518 009€ is provided for information purposes only and requires in-depth analysis to be confirmed.