LABORATOIRES CHAIX ET DU MARAIS : revenue, balance sheet and financial ratios

In 2024, LABORATOIRES CHAIX ET DU MARAIS achieves revenue of 20.3 M€. Revenue is growing positively over 9 years (CAGR: +5.0%). Vs 2023, growth of +11% (18.3 M€ -> 20.3 M€). After deducting consumption (5.1 M€), gross margin stands at 15.2 M€, i.e. a rate of 75%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.6 M€, representing 7.9% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -19%, reducing margin by 2.9 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 340 k€, i.e. 1.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 83%. Debt level is high: negotiating margin with banks is reduced. 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 4.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.4% 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 189.04. 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 16.5x. 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: 7 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 69 days. Excellent situation: suppliers finance 62 days of the operating cycle (retail model). Inventory turnover is 73 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 63 days of revenue, i.e. 3.5 M€ to permanently finance. Over 2016-2024, WCR increased by +32%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of LABORATOIRES CHAIX ET DU MARAIS is estimated at 1 916 311 € (range 990 902€ - 6 183 801€). With an EBITDA of 1 602 687€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.