INTER SERVICES REALISATIONS : revenue, balance sheet and financial ratios

In 2023, INTER SERVICES REALISATIONS achieves revenue of 2.3 M€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +6.8%. Slight decline of -0% vs 2022. After deducting consumption (435 k€), gross margin stands at 1.8 M€, i.e. a rate of 81%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 627 k€, representing 27.8% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -39%, reducing margin by 17.4 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 777 k€, i.e. 34.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 78%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 38.0% 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 1542.39. 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 13.5x. 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: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 18 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 489 days of revenue, i.e. 3.1 M€ to permanently finance. Over 2016-2023, WCR increased by +108%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of INTER SERVICES REALISATIONS is estimated at 2 278 125 € (range 731 613€ - 4 590 628€). With an EBITDA of 627 386€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.