SA ESKER : revenue, balance sheet and financial ratios

In 2024, SA ESKER achieves revenue of 75.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +13.1%. Vs 2023: +4%. After deducting consumption (1.5 M€), gross margin stands at 74.2 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -5.4 M€, representing -7.2% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -1742%, reducing margin by 7.6 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 20.6 M€, i.e. 27.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 63%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 42.7% 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 150.99. 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: 193 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 103 days. The gap of 90 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 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 108 days of revenue, i.e. 22.7 M€ to permanently finance. Over 2016-2024, WCR increased by +542%, requiring additional financing.

Based on 103 transactions of similar company sales (all years), the value of SA ESKER is estimated at 21 320 937 € (range 8 731 840€ - 58 092 287€). The price/revenue ratio is 0.25x (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.