DJ SERTI : revenue, balance sheet and financial ratios

In 2024, DJ SERTI achieves revenue of 1.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.8%. Significant drop of -29% vs 2023. After deducting consumption (41 k€), gross margin stands at 1.5 M€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 196 k€, representing 12.4% of revenue. Warning negative scissor effect: despite revenue change (-29%), EBITDA varies by -55%, reducing margin by 7.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 168 k€, i.e. 10.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 65%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 49%. 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 2.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.2% 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 346.22. 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 5.0x. 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: 53 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. The gap of 36 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 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 290 days of revenue, i.e. 1.3 M€ to permanently finance. Over 2016-2024, WCR increased by +381%, requiring additional financing.

Based on 101 transactions of similar company sales (all years), the value of DJ SERTI is estimated at 454 022 € (range 148 591€ - 853 311€). With an EBITDA of 195 761€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.24x (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.