LECUREUR SEMENCES : revenue, balance sheet and financial ratios

In 2024, LECUREUR SEMENCES achieves revenue of 8.3 M€. Revenue is growing positively over 9 years (CAGR: +0.5%). Slight decline of -3% vs 2023. After deducting consumption (4.9 M€), gross margin stands at 3.4 M€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 934 k€, representing 11.3% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 39 k€, i.e. 0.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 68%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 5.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 193.27. 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 8.9x. 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: 18 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Inventory turnover is 32 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 89 days of revenue, i.e. 2.1 M€ to permanently finance. Over 2016-2024, WCR increased by +184%, requiring additional financing.

Based on 138 transactions of similar company sales (all years), the value of LECUREUR SEMENCES is estimated at 2 609 725 € (range 877 804€ - 4 120 951€). With an EBITDA of 933 919€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.