SUN LIGHT : revenue, balance sheet and financial ratios

In 2025, SUN LIGHT achieves revenue of 302 k€. Revenue is declining over the period 2016-2025 (CAGR: -12.6%). Significant drop of -26% vs 2024. After deducting consumption (215 k€), gross margin stands at 87 k€, i.e. a rate of 29%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -201 k€, representing -66.8% of revenue. Warning negative scissor effect: despite revenue change (-26%), EBITDA varies by -42%, reducing margin by 32.0 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 125 k€, i.e. 41.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 304%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 201.0% 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 194.43. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 441 days. Excellent situation: suppliers finance 441 days of the operating cycle (retail model). Inventory turnover is 1164 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 576 days of revenue, i.e. 482 k€ to permanently finance. Notable WCR improvement over the period (-45%), freeing up cash.

Based on 145 transactions of similar company sales (all years), the value of SUN LIGHT is estimated at 200 810 € (range 52 893€ - 385 409€). The price/revenue ratio is 0.19x (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.