LES SERINES : revenue, balance sheet and financial ratios

LES SERINES is a French company founded 14 years ago, specialized in the sector Autres intermédiaires du commerce en denrées, boissons et tabac. Based in MARSEILLE (13015), this company of category PME shows in 2020 a revenue of 145 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - LES SERINES (SIREN 533856217)
Indicator 2020 2019 2018 2017 2016
Revenue 144 926 € 162 000 € 144 000 € 120 000 € 113 517 €
Net income 18 124 € 119 244 € 114 411 € 95 008 € 70 702 €
EBITDA 25 972 € 40 535 € 35 480 € 15 074 € 15 187 €
Net margin 12.5% 73.6% 79.5% 79.2% 62.3%

Revenue and income statement

In 2020, LES SERINES achieves revenue of 145 k€. Over the period 2016-2020, the company shows strong growth with a CAGR (compound annual growth rate) of +6.3%. Significant drop of -11% vs 2019. After deducting consumption (741 €), gross margin stands at 144 k€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 17.9% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -36%, reducing margin by 7.1 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 18 k€, i.e. 12.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

144 926 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

144 185 €

EBITDA (2020) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

25 972 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

25 746 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

18 124 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

17.9%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 59%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 53%. 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 12.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 12.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

59.372%

Financial autonomy (2020) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

52.743%

Cash flow / Revenue (2020) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

12.664%

Repayment capacity (2020) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

12.617

Asset age ratio (2020) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

18.5%

Solvency indicators evolution
LES SERINES

Sector positioning

Debt ratio
59.37 2020
2018
2019
2020
Q1: 0.03
Med: 13.17
Q3: 73.12
Average -6 pts over 3 years

In 2020, the debt ratio of LES SERINES (59.37) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
52.74% 2020
2018
2019
2020
Q1: 11.93%
Med: 38.1%
Q3: 63.28%
Good +12 pts over 3 years

In 2020, the financial autonomy of LES SERINES (52.7%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
12.62 years 2020
2018
2019
2020
Q1: 0.0 years
Med: 0.01 years
Q3: 1.53 years
Watch

In 2020, the repayment capacity of LES SERINES (12.62) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 194.46. 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 23.3x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2020) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

194.462

Interest coverage (2020) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

23.256

Liquidity indicators evolution
LES SERINES

Sector positioning

Liquidity ratio
194.46 2020
2018
2019
2020
Q1: 141.6
Med: 235.5
Q3: 452.38
Average -36 pts over 3 years

In 2020, the liquidity ratio of LES SERINES (194.46) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
23.26x 2020
2018
2019
2020
Q1: 0.0x
Med: 0.0x
Q3: 1.11x
Excellent

In 2020, the interest coverage of LES SERINES (23.3x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 89 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 295 days. Excellent situation: suppliers finance 206 days of the operating cycle (retail model). Inventory turnover is 306 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 483 days of revenue, i.e. 194 k€ to permanently finance. Over 2016-2020, WCR increased by +1446%, requiring additional financing.

Operating WCR (2020) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

194 465 €

Customer credit (2020) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

89 j

Supplier credit (2020) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

295 j

Inventory turnover (2020) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

306 j

WCR in days of revenue (2020) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

483 j

WCR and payment terms evolution
LES SERINES

Positioning of LES SERINES in its sector

Comparison with sector Autres intermédiaires du commerce en denrées, boissons et tabac

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (49 transactions). This range of 22 118€ to 73 294€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2020
Indicative
22k€ 33k€ 73k€
33 000 € Range: 22 118€ - 73 294€
NAF 5 all-time

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 49 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Autres intermédiaires du commerce en denrées, boissons et tabac)

Compare LES SERINES with other companies in the same sector:

Voir toutes les statistiques du secteur Autres intermédiaires du commerce en denrées, boissons et tabac

Frequently asked questions about LES SERINES

What is the revenue of LES SERINES ?

The revenue of LES SERINES in 2020 is 145 k€.

Is LES SERINES profitable?

Yes, LES SERINES generated a net profit of 18 k€ in 2020.

Where is the headquarters of LES SERINES ?

The headquarters of LES SERINES is located in MARSEILLE (13015), in the department Bouches-du-Rhone.

Where to find the tax return of LES SERINES ?

The tax return of LES SERINES is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does LES SERINES operate?

LES SERINES operates in the sector Autres intermédiaires du commerce en denrées, boissons et tabac (NAF code 46.17B). See the 'Sector positioning' section above to compare the company with its competitors.