CABINET SENNES : revenue, balance sheet and financial ratios

In 2018, CABINET SENNES achieves revenue of 784 k€. Revenue is growing positively over 3 years (CAGR: +4.4%). Slight decline of -2% vs 2017. After deducting consumption (0 €), gross margin stands at 784 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 13 k€, representing 1.7% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -60%, reducing margin by 2.5 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 k€, i.e. 0.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 77%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 108.12. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 200 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 36 days. The gap of 164 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-1090 days): operations structurally generate cash. Notable WCR improvement over the period (-35%), freeing up cash.

Based on 64 transactions of similar company sales in 2018, the value of CABINET SENNES is estimated at 80 407 € (range 49 118€ - 191 048€). With an EBITDA of 13 427€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.30x (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.