ELIS SERVICES : revenue, balance sheet and financial ratios

In 2024, ELIS SERVICES achieves revenue of 499.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.1%. Vs 2023: +7%. After deducting consumption (277.7 M€), gross margin stands at 221.9 M€, i.e. a rate of 44%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 25.6 M€, representing 5.1% of revenue. Warning negative scissor effect: despite revenue change (+7%), EBITDA varies by -27%, reducing margin by 2.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -10.7 M€ (-2.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 34%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 1.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 149.35. 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 14.1x. 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: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 40 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 61 days of revenue, i.e. 84.9 M€ to permanently finance. Over 2016-2024, WCR increased by +51%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of ELIS SERVICES is estimated at 144 366 012 € (range 56 656 727€ - 259 703 261€). With an EBITDA of 25 585 566€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.