LES TRANSPORTS DE L'YSER : revenue, balance sheet and financial ratios

In 2024, LES TRANSPORTS DE L'YSER achieves revenue of 261 k€. Activity remains stable over the period (CAGR: -3.6%). Significant drop of -45% vs 2023. After deducting consumption (10 k€), gross margin stands at 251 k€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 219 k€, representing 84.1% of revenue. Warning negative scissor effect: despite revenue change (-45%), EBITDA varies by -50%, reducing margin by 7.4 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 31 k€, i.e. 12.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 90%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 78.8% 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 3455.01. 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 0.3x. 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: 131 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 32 days. The gap of 99 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 152 days of revenue, i.e. 110 k€ to permanently finance. Over 2016-2024, WCR increased by +25%, requiring additional financing.

Based on 292 transactions of similar company sales (all years), the value of LES TRANSPORTS DE L'YSER is estimated at 1 251 200 € (range 292 273€ - 2 223 395€). With an EBITDA of 219 439€, the sector multiple of 9.5x is applied. The price/revenue ratio is 2.04x (premium 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.