ISEA FRANCE : revenue, balance sheet and financial ratios

In 2024, ISEA FRANCE achieves revenue of 25.3 M€. Revenue is growing positively over 9 years (CAGR: +3.5%). Slight decline of -9% vs 2023. After deducting consumption (14.4 M€), gross margin stands at 10.9 M€, i.e. a rate of 43%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.2 M€, representing 8.6% of revenue. Warning negative scissor effect: despite revenue change (-9%), EBITDA varies by -38%, reducing margin by 4.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.2 M€, i.e. 4.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 33%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 221.61. 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 5.8x. 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: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 51 days. Favorable situation: supplier credit is longer than customer credit by 7 days. Inventory turnover is 47 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 89 days of revenue, i.e. 6.3 M€ to permanently finance.

Based on 75 transactions of similar company sales (all years), the value of ISEA FRANCE is estimated at 3 182 796 € (range 1 611 327€ - 6 067 993€). With an EBITDA of 2 172 188€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.16x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.