SAINT-GOBAIN SULLY : revenue, balance sheet and financial ratios

In 2024, SAINT-GOBAIN SULLY achieves revenue of 104.1 M€. Revenue is growing positively over 9 years (CAGR: +4.8%). Vs 2023, growth of +11% (94.0 M€ -> 104.1 M€). After deducting consumption (27.6 M€), gross margin stands at 76.5 M€, i.e. a rate of 74%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 16.3 M€, representing 15.7% of revenue. Positive scissor effect: EBITDA margin improves by +2.7 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 9.9 M€, i.e. 9.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 120%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 10.5% 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 260.67. 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 14.7x. 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: 27 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 63 days. Excellent situation: suppliers finance 36 days of the operating cycle (retail model). Inventory turnover is 180 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 161 days of revenue, i.e. 46.6 M€ to permanently finance. Over 2016-2024, WCR increased by +39%, requiring additional financing.

Based on 228 transactions of similar company sales (all years), the value of SAINT-GOBAIN SULLY is estimated at 20 156 429 € (range 7 636 496€ - 52 951 876€). With an EBITDA of 16 319 498€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.13x (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.