3 AS SERIGRAPHIE : revenue, balance sheet and financial ratios

In 2024, 3 AS SERIGRAPHIE achieves revenue of 295 k€. Activity remains stable over the period (CAGR: -0.0%). Slight decline of -3% vs 2023. After deducting consumption (61 k€), gross margin stands at 234 k€, i.e. a rate of 79%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6 k€, representing 1.9% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -69%, reducing margin by 3.9 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 18 k€, i.e. 6.1% 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 86%. 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 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 859.20. 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 5.9x. 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: 52 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. The company must finance 18 days of gap between collections and payments. Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 67 days of revenue, i.e. 55 k€ to permanently finance.

Based on 72 transactions of similar company sales (all years), the value of 3 AS SERIGRAPHIE is estimated at 61 009 € (range 28 688€ - 124 946€). With an EBITDA of 5 506€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.25x (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.