LABORATOIRE CSBS-ODEMER : revenue, balance sheet and financial ratios

In 2024, LABORATOIRE CSBS-ODEMER achieves revenue of 1.2 M€. Activity remains stable over the period (CAGR: -2.0%). Vs 2023, growth of +88% (615 k€ -> 1.2 M€). After deducting consumption (188 k€), gross margin stands at 969 k€, i.e. a rate of 84%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 187 k€, representing 16.2% of revenue. Positive scissor effect: EBITDA margin improves by +33.9 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 99 k€, i.e. 8.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -806%. 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 -10%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 12.4% 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 97.98. 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 9.8x. 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: 101 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 158 days. Excellent situation: suppliers finance 57 days of the operating cycle (retail model). Inventory turnover is 19 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 96 days of revenue, i.e. 308 k€ to permanently finance.

Based on 121 transactions of similar company sales (all years), the value of LABORATOIRE CSBS-ODEMER is estimated at 466 570 € (range 209 021€ - 1 093 422€). With an EBITDA of 187 409€, the sector multiple of 3.2x is applied. The price/revenue ratio is 0.27x (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.