PAESE SERENU : revenue, balance sheet and financial ratios

In 2024, PAESE SERENU achieves revenue of 2.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.0%. Vs 2022, growth of +12% (2.3 M€ -> 2.6 M€). After deducting consumption (257 k€), gross margin stands at 2.4 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 108 k€, representing 4.1% of revenue. Warning negative scissor effect: despite revenue change (+12%), EBITDA varies by -80%, reducing margin by 19.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -113 k€ (-4.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 83%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 44%. 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 5.1 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.0% 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 146.23. 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 23.7x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 57 days. Excellent situation: suppliers finance 56 days of the operating cycle (retail model). Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 48 days of revenue, i.e. 346 k€ to permanently finance.

Based on 261 transactions of similar company sales (all years), the value of PAESE SERENU is estimated at 1 089 531 € (range 708 460€ - 2 030 068€). With an EBITDA of 108 032€, the sector multiple of 5.3x is applied. The price/revenue ratio is 0.75x (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.