I SEE HOLDING : revenue, balance sheet and financial ratios

In 2023, I SEE HOLDING achieves revenue of 414 k€. Revenue is growing positively over 4 years (CAGR: +1.0%). Slight decline of -6% vs 2019. After deducting consumption (0 €), gross margin stands at 414 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 31 k€, representing 7.6% of revenue. Positive scissor effect: EBITDA margin improves by +26.0 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 106 k€, i.e. 25.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 85%. 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 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.9% 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 65.35. 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 12.5x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. Favorable situation: supplier credit is longer than customer credit by 12 days. WCR is negative (-5 days): operations structurally generate cash. Notable WCR improvement over the period (-105%), freeing up cash.

Based on 66 transactions of similar company sales in 2023, the value of I SEE HOLDING is estimated at 287 506 € (range 118 023€ - 593 517€). With an EBITDA of 31 302€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.63x (in line with sector norms). 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.