JLD INSTRUMENTS : revenue, balance sheet and financial ratios

In 2024, JLD INSTRUMENTS achieves revenue of 733 k€. Revenue is declining over the period 2016-2024 (CAGR: -8.6%). Significant drop of -67% vs 2023. After deducting consumption (441 k€), gross margin stands at 292 k€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 134 k€, representing 18.3% of revenue. Warning negative scissor effect: despite revenue change (-67%), EBITDA varies by -80%, reducing margin by 11.4 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 133 k€, i.e. 18.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 96%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 19.0% 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 2987.18. 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 0.3x. 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: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 700 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 694 days of revenue, i.e. 1.4 M€ to permanently finance. Over 2016-2024, WCR increased by +306%, requiring additional financing.

Based on 229 transactions of similar company sales (all years), the value of JLD INSTRUMENTS is estimated at 225 354 € (range 87 654€ - 719 138€). With an EBITDA of 134 364€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.