EVIDENCE SAS : revenue, balance sheet and financial ratios

In 2024, EVIDENCE SAS achieves revenue of 22 k€. Activity remains stable over the period (CAGR: -0.4%). Vs 2023: +9%. After deducting consumption (8 k€), gross margin stands at 13 k€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 8 k€, representing 36.9% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -50%, reducing margin by 44.0 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 693 €, i.e. 3.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -4376%. 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 -2%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 27.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 14.2% 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 1490.41. 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 56.5x. 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: 328 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 66 days. The gap of 262 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 643 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 1078 days of revenue, i.e. 65 k€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (32 transactions). This range of 5 482€ to 18 459€ is provided for information purposes only and requires in-depth analysis to be confirmed.