IMMAUCOM PAC SAINT SEBASTIEN : revenue, balance sheet and financial ratios

In 2024, IMMAUCOM PAC SAINT SEBASTIEN achieves revenue of 583 k€. Revenue is growing positively over 9 years (CAGR: +0.5%). Significant drop of -14% vs 2023. After deducting consumption (0 €), gross margin stands at 583 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 467 k€, representing 80.2% of revenue. Positive scissor effect: EBITDA margin improves by +7.2 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 331 k€, i.e. 56.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 139%. Debt level is high: negotiating margin with banks is reduced. 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 14.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 51.0% 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 576.21. 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 47.9x. 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: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 403 days. Excellent situation: suppliers finance 340 days of the operating cycle (retail model). Overall, WCR represents 152 days of revenue, i.e. 247 k€ to permanently finance. Over 2016-2024, WCR increased by +330%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of IMMAUCOM PAC SAINT SEBASTIEN is estimated at 1 900 339 € (range 535 806€ - 3 416 416€). With an EBITDA of 467 308€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.