LA RIVE BIO : revenue, balance sheet and financial ratios

In 2024, LA RIVE BIO achieves revenue of 527 k€. Revenue is declining over the period 2017-2024 (CAGR: -15.3%). Significant drop of -44% vs 2023. After deducting consumption (171 k€), gross margin stands at 356 k€, i.e. a rate of 68%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 158 k€, representing 30.1% of revenue. Positive scissor effect: EBITDA margin improves by +17.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 78 k€, i.e. 14.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 36%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 61%. 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 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.5% 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 163.57. 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 2.2x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 115 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. The gap of 64 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 20 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 95 days of revenue, i.e. 139 k€ to permanently finance.

Based on 138 transactions of similar company sales (all years), the value of LA RIVE BIO is estimated at 368 442 € (range 126 732€ - 630 940€). With an EBITDA of 158 463€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.