GSN SEMENCES : revenue, balance sheet and financial ratios

In 2025, GSN SEMENCES achieves revenue of 22.5 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +5.1%. Slight decline of -3% vs 2024. After deducting consumption (9.1 M€), gross margin stands at 13.4 M€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.1 M€, representing 31.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.5 M€, i.e. 20.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 121%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 19.7% 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 525.29. 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 19.6x. 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: 290 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 150 days. The gap of 140 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 155 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 503 days of revenue, i.e. 31.5 M€ to permanently finance. Over 2016-2025, WCR increased by +89%, requiring additional financing.

Based on 138 transactions of similar company sales (all years), the value of GSN SEMENCES is estimated at 16 902 707 € (range 5 863 014€ - 29 780 890€). With an EBITDA of 7 106 395€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.41x (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.