LABORATOIRES LEA : revenue, balance sheet and financial ratios

In 2024, LABORATOIRES LEA achieves revenue of 46.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.9%. Vs 2023: +1%. After deducting consumption (25.2 M€), gross margin stands at 21.1 M€, i.e. a rate of 46%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.4 M€, representing 3.1% of revenue. Positive scissor effect: EBITDA margin improves by +3.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.3 M€, i.e. 9.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 72%. 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 1.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.2% 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 479.46. 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 6.0x. 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: 37 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. Favorable situation: supplier credit is longer than customer credit by 16 days. Inventory turnover is 179 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 288 days of revenue, i.e. 37.0 M€ to permanently finance. Over 2016-2024, WCR increased by +576%, requiring additional financing.

Based on 74 transactions of similar company sales (all years), the value of LABORATOIRES LEA is estimated at 2 424 801 € (range 1 335 104€ - 8 094 599€). With an EBITDA of 1 414 564€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.11x (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.