DEVELOPPE EQUIPE SERVICE SODES : revenue, balance sheet and financial ratios

In 2023, DEVELOPPE EQUIPE SERVICE SODES achieves revenue of 3.4 M€. Activity remains stable over the period (CAGR: -1.6%). Significant drop of -40% vs 2022. After deducting consumption (35 k€), gross margin stands at 3.3 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 589 k€, representing 17.5% of revenue. Positive scissor effect: EBITDA margin improves by +3.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 307 k€, i.e. 9.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. 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 62%. 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.1% 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 206.29. 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 3.3x. 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: 158 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 123 days. The gap of 35 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 891 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 762 days of revenue, i.e. 7.1 M€ to permanently finance. Over 2015-2023, WCR increased by +39%, requiring additional financing.

Based on 80 transactions of similar company sales (all years), the value of DEVELOPPE EQUIPE SERVICE SODES is estimated at 722 511 € (range 268 523€ - 1 990 967€). With an EBITDA of 588 907€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.28x (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.