GERS SAS : revenue, balance sheet and financial ratios

In 2024, GERS SAS achieves revenue of 63.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +10.6%. Vs 2023: +2%. After deducting consumption (22 k€), gross margin stands at 63.7 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 12.0 M€, representing 18.8% of 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 6.4 M€, i.e. 10.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 8%. 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 41%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.1% 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 138.88. 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 21.6x. 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: 103 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. The gap of 43 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 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 78 days of revenue, i.e. 13.9 M€ to permanently finance. Over 2016-2024, WCR increased by +82%, requiring additional financing.

Based on 107 transactions of similar company sales (all years), the value of GERS SAS is estimated at 23 407 668 € (range 8 603 233€ - 52 271 104€). With an EBITDA of 11 988 621€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.23x (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.