LE BRAS FRERES : revenue, balance sheet and financial ratios

In 2025, LE BRAS FRERES achieves revenue of 36.6 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +15.8%. Slight decline of -8% vs 2024. After deducting consumption (6.8 M€), gross margin stands at 29.8 M€, i.e. a rate of 81%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.6 M€, representing 9.9% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -59%, reducing margin by 12.2 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 3.0 M€, i.e. 8.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 47%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 2.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.4% 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 206.38. 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 7.6x. 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: 115 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 117 days. Favorable situation: supplier credit is longer than customer credit by 2 days. Inventory turnover is 56 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 212 days of revenue, i.e. 21.6 M€ to permanently finance. Over 2017-2025, WCR increased by +306%, requiring additional financing.

Based on 113 transactions of similar company sales (all years), the value of LE BRAS FRERES is estimated at 7 409 635 € (range 3 619 174€ - 12 227 370€). With an EBITDA of 3 609 145€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.16x (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.