SAMOG : revenue, balance sheet and financial ratios

In 2024, SAMOG achieves revenue of 12.8 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.1%. Slight decline of -5% vs 2023. After deducting consumption (4.7 M€), gross margin stands at 8.1 M€, i.e. a rate of 63%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 321 k€, representing 2.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -249 k€ (-2.0% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 161%. 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 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 56.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 170.40. 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 68.1x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 80 days. Favorable situation: supplier credit is longer than customer credit by 11 days. Inventory turnover is 130 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 241 days of revenue, i.e. 8.5 M€ to permanently finance.

Based on 95 transactions of similar company sales (all years), the value of SAMOG is estimated at 1 115 208 € (range 540 282€ - 3 811 277€). With an EBITDA of 320 511€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.17x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.