SAIEM GRENOBLE HABITAT : revenue, balance sheet and financial ratios

In 2024, SAIEM GRENOBLE HABITAT achieves revenue of 38.8 M€. Revenue is growing positively over 8 years (CAGR: +4.9%). Significant drop of -29% vs 2022. After deducting consumption (0 €), gross margin stands at 38.8 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 5.8 M€, representing 14.9% of revenue. Positive scissor effect: EBITDA margin improves by +4.4 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 965 k€, i.e. 2.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 179%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 39.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 17.8% 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 168.03. 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 139.2x. 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: 65 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 166 days. Excellent situation: suppliers finance 101 days of the operating cycle (retail model). Inventory turnover is 165 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 249 days of revenue, i.e. 26.8 M€ to permanently finance. Over 2016-2024, WCR increased by +97%, requiring additional financing.

Based on 169 transactions of similar company sales in 2024, the value of SAIEM GRENOBLE HABITAT is estimated at 26 904 535 € (range 8 270 820€ - 48 809 463€). With an EBITDA of 5 788 325€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (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.