LINGENHELD TRAVAUX PUBLICS : revenue, balance sheet and financial ratios

In 2024, LINGENHELD TRAVAUX PUBLICS achieves revenue of 94.0 M€. Revenue is growing positively over 8 years (CAGR: +0.8%). Slight decline of -3% vs 2023. After deducting consumption (25.2 M€), gross margin stands at 68.7 M€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.3 M€, representing 3.5% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -48%, 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 2.0 M€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 71%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). 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 3.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 106.35. 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 4.7x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 45 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 77 days. Excellent situation: suppliers finance 32 days of the operating cycle (retail model). Inventory turnover is 296 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 21 days of revenue, i.e. 5.4 M€ to permanently finance. Over 2016-2024, WCR increased by +87%, requiring additional financing.

Based on 67 transactions of similar company sales (all years), the value of LINGENHELD TRAVAUX PUBLICS is estimated at 4 853 943 € (range 3 041 056€ - 12 184 900€). With an EBITDA of 3 289 204€, the sector multiple of 0.6x 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.