LEDAUPHIN NORMANDIE : revenue, balance sheet and financial ratios

In 2024, LEDAUPHIN NORMANDIE achieves revenue of 3.6 M€. Revenue is growing positively over 9 years (CAGR: +2.7%). Vs 2023, growth of +33% (2.7 M€ -> 3.6 M€). After deducting consumption (621 k€), gross margin stands at 3.0 M€, i.e. a rate of 83%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 620 k€, representing 17.3% of revenue. Warning negative scissor effect: despite revenue change (+33%), EBITDA varies by +13%, reducing margin by 3.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 381 k€, i.e. 10.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 14.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 124.33. 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: 54 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. Favorable situation: supplier credit is longer than customer credit by 27 days. Inventory turnover is 337 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. WCR is negative (-83 days): operations structurally generate cash. Notable WCR improvement over the period (-394%), freeing up cash.

Based on 113 transactions of similar company sales (all years), the value of LEDAUPHIN NORMANDIE is estimated at 1 437 648 € (range 572 272€ - 2 636 627€). With an EBITDA of 619 602€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.11x (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.