PRESSE DE LA FONDATION NATIONALE DES SCIENCES POLITIQUES : revenue, balance sheet and financial ratios

In 2023, PRESSE DE LA FONDATION NATIONALE DES SCIENCES POLITIQUES achieves revenue of 762 k€. Activity remains stable over the period (CAGR: -2.1%). Significant drop of -21% vs 2022. After deducting consumption (227 k€), gross margin stands at 534 k€, i.e. a rate of 70%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 84 k€, representing 11.0% of revenue. Positive scissor effect: EBITDA margin improves by +10.6 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 27 k€, i.e. 3.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 15%. 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 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 192.04. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 145 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 98 days. The gap of 47 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 270 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 156 days of revenue, i.e. 330 k€ to permanently finance. Notable WCR improvement over the period (-27%), freeing up cash.

Based on 104 transactions of similar company sales (all years), the value of PRESSE DE LA FONDATION NATIONALE DES SCIENCES POLITIQUES is estimated at 127 577 € (range 58 016€ - 346 775€). With an EBITDA of 83 601€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.