ETABLISSEMENTS SERRE ET ANDRIEU : revenue, balance sheet and financial ratios

In 2024, ETABLISSEMENTS SERRE ET ANDRIEU achieves revenue of 9.4 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.9%. Slight decline of -2% vs 2023. After deducting consumption (6.0 M€), gross margin stands at 3.4 M€, i.e. a rate of 36%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 717 k€, representing 7.6% of revenue. Positive scissor effect: EBITDA margin improves by +4.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 434 k€, i.e. 4.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 57%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 235.36. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 27 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. Favorable situation: supplier credit is longer than customer credit by 28 days. Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 117 days of revenue, i.e. 3.1 M€ to permanently finance. Over 2015-2024, WCR increased by +72%, requiring additional financing.

Based on 85 transactions of similar company sales (all years), the value of ETABLISSEMENTS SERRE ET ANDRIEU is estimated at 1 028 498 € (range 504 725€ - 2 417 017€). With an EBITDA of 716 876€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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.