LDL - LUCAS DIFFUSION LOISIRS : revenue, balance sheet and financial ratios

In 2025, LDL - LUCAS DIFFUSION LOISIRS achieves revenue of 15.2 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +6.5%. Vs 2024: +4%. After deducting consumption (13.1 M€), gross margin stands at 2.1 M€, i.e. a rate of 14%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 511 k€, representing 3.4% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -46%, reducing margin by 3.0 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 373 k€, i.e. 2.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 133%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 214.88. 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 26.6x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 87 days. Excellent situation: suppliers finance 86 days of the operating cycle (retail model). Inventory turnover is 219 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 199 days of revenue, i.e. 8.4 M€ to permanently finance. Over 2016-2025, WCR increased by +125%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of LDL - LUCAS DIFFUSION LOISIRS is estimated at 835 873 € (range 481 666€ - 3 153 787€). With an EBITDA of 510 590€, the sector multiple of 0.8x is applied. The price/revenue ratio is 0.13x (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.