LABORATOIRES NATESCIENCE : revenue, balance sheet and financial ratios

In 2024, LABORATOIRES NATESCIENCE achieves revenue of 33.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.8%. Slight decline of -5% vs 2023. After deducting consumption (11.0 M€), gross margin stands at 22.2 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.8 M€, representing 11.3% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.5 M€, i.e. 7.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 20%. 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 48%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.1% 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 168.84. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 47 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 66 days. Favorable situation: supplier credit is longer than customer credit by 19 days. Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 119 days of revenue, i.e. 11.0 M€ to permanently finance. Over 2016-2024, WCR increased by +145%, requiring additional financing.

Based on 64 transactions of similar company sales (all years), the value of LABORATOIRES NATESCIENCE is estimated at 9 155 862 € (range 5 189 979€ - 32 949 927€). With an EBITDA of 3 764 091€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.38x (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.