INSERCO : revenue, balance sheet and financial ratios

In 2024, INSERCO achieves revenue of 1.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.8%. Significant drop of -25% vs 2023. After deducting consumption (783 k€), gross margin stands at 1.1 M€, i.e. a rate of 59%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 340 k€, representing 17.8% of revenue. Warning negative scissor effect: despite revenue change (-25%), EBITDA varies by -48%, reducing margin by 7.7 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 253 k€, i.e. 13.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 67%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.3% 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 401.80. 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 2.4x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 83 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 123 days of revenue, i.e. 655 k€ to permanently finance. Over 2016-2024, WCR increased by +152%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (39 transactions). This range of 237 994€ to 2 019 370€ is provided for information purposes only and requires in-depth analysis to be confirmed.