SAS DE BROVILLE : revenue, balance sheet and financial ratios

In 2023, SAS DE BROVILLE achieves revenue of 482 k€. Over the period 2016-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +51.6%. Vs 2022: +10%. After deducting consumption (284 k€), gross margin stands at 198 k€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 80 k€, representing 16.6% of revenue. Warning negative scissor effect: despite revenue change (+10%), EBITDA varies by -29%, reducing margin by 9.0 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 -86 k€ (-17.8% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 6137%. 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 2%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 31.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 11.2% 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 398.85. 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 32.4x. 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: 68 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. The gap of 35 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 76 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 197 days of revenue, i.e. 264 k€ to permanently finance. Over 2016-2023, WCR increased by +50%, requiring additional financing.

Based on 127 transactions of similar company sales (all years), the value of SAS DE BROVILLE is estimated at 219 184 € (range 29 955€ - 903 124€). With an EBITDA of 80 127€, the sector multiple of 2.3x is applied. The price/revenue ratio is 0.59x (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.