LA CHAUDRONNERIE CLUSIENNE : revenue, balance sheet and financial ratios

In 2023, LA CHAUDRONNERIE CLUSIENNE achieves revenue of 608 k€. Activity remains stable over the period (CAGR: -0.0%). Vs 2022, growth of +23% (493 k€ -> 608 k€). After deducting consumption (58 k€), gross margin stands at 550 k€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 66 k€, representing 10.9% of revenue. Warning negative scissor effect: despite revenue change (+23%), EBITDA varies by -4%, reducing margin by 3.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 44 k€, i.e. 7.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 71%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.3% 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 476.88. 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 1.2x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 93 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. The gap of 49 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 57 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 124 days of revenue, i.e. 210 k€ to permanently finance. Over 2016-2023, WCR increased by +20%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of LA CHAUDRONNERIE CLUSIENNE is estimated at 74 599 € (range 46 623€ - 170 306€). With an EBITDA of 66 407€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.