LALLEMAND SAS : revenue, balance sheet and financial ratios

In 2023, LALLEMAND SAS achieves revenue of 8.7 M€. Revenue is growing positively over 8 years (CAGR: +4.0%). Significant drop of -25% vs 2022. After deducting consumption (4.1 M€), gross margin stands at 4.6 M€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 964 k€, representing 11.1% of revenue. Warning negative scissor effect: despite revenue change (-25%), EBITDA varies by -54%, reducing margin by 7.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 561 k€, i.e. 6.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 12%. 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 51%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.8% 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 182.79. 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 0.1x. 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: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. Favorable situation: supplier credit is longer than customer credit by 4 days. Inventory turnover is 21 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 66 days of revenue, i.e. 1.6 M€ to permanently finance. Notable WCR improvement over the period (-54%), freeing up cash.

Based on 76 transactions of similar company sales (all years), the value of LALLEMAND SAS is estimated at 1 332 852 € (range 556 429€ - 2 826 060€). With an EBITDA of 963 572€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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.