SANCHEZ PISCINES : revenue, balance sheet and financial ratios

In 2024, SANCHEZ PISCINES achieves revenue of 4.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.6%. Slight decline of -6% vs 2023. After deducting consumption (2.2 M€), gross margin stands at 2.4 M€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 374 k€, representing 8.2% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -33%, reducing margin by 3.3 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 44 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 20%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.5% 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 308.12. 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 54.4x. 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: 6 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 15 days. Favorable situation: supplier credit is longer than customer credit by 9 days. Inventory turnover is 27 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 18 days of revenue, i.e. 221 k€ to permanently finance. Over 2016-2024, WCR increased by +501%, requiring additional financing.

Based on 117 transactions of similar company sales in 2024, the value of SANCHEZ PISCINES is estimated at 1 487 046 € (range 932 660€ - 2 541 765€). With an EBITDA of 374 105€, the sector multiple of 4.0x is applied. The price/revenue ratio is 0.53x (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.