SAEM HABITER A YERRES : revenue, balance sheet and financial ratios

In 2021, SAEM HABITER A YERRES achieves revenue of 3.3 M€. Over the period 2016-2021, the company shows strong growth with a CAGR (compound annual growth rate) of +5.9%. Vs 2020: +3%. After deducting consumption (12 €), gross margin stands at 3.3 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 702 k€, representing 21.2% of revenue. Warning negative scissor effect: despite revenue change (+3%), EBITDA varies by -9%, reducing margin by 2.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -451 k€ (-13.6% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 122%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 41%. 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 103.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 7.7% 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 1767.53. 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 61.6x. 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: 353 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. The gap of 319 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 348 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 298 days of revenue, i.e. 2.7 M€ to permanently finance. Over 2016-2021, WCR increased by +173%, requiring additional financing.

Based on 178 transactions of similar company sales in 2021, the value of SAEM HABITER A YERRES is estimated at 2 941 866 € (range 1 312 316€ - 5 726 485€). With an EBITDA of 701 634€, the sector multiple of 4.7x is applied. The price/revenue ratio is 0.70x (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.