EDITIONS SELZ : revenue, balance sheet and financial ratios

In 2024, EDITIONS SELZ achieves revenue of 604 k€. Revenue is declining over the period 2018-2024 (CAGR: -10.2%). Slight decline of -3% vs 2023. After deducting consumption (31 k€), gross margin stands at 573 k€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 56 k€, representing 9.3% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -38%, reducing margin by 5.3 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 27 k€, i.e. 4.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 69%. 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 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.2% 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 300.42. 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 1.7x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. The company must finance 14 days of gap between collections and payments. Inventory turnover is 41 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 95 days of revenue, i.e. 160 k€ to permanently finance. Over 2018-2024, WCR increased by +190%, requiring additional financing.

Based on 67 transactions of similar company sales (all years), the value of EDITIONS SELZ is estimated at 88 335 € (range 42 911€ - 302 802€). With an EBITDA of 55 951€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.16x (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.