SAS PENOT & FILS : revenue, balance sheet and financial ratios

In 2024, SAS PENOT & FILS achieves revenue of 738 k€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.9%. Slight decline of -1% vs 2023. After deducting consumption (177 k€), gross margin stands at 562 k€, i.e. a rate of 76%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 93 k€, representing 12.6% of revenue. Positive scissor effect: EBITDA margin improves by +4.7 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 47 k€, i.e. 6.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 81%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. 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 567.32. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 23 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. Favorable situation: supplier credit is longer than customer credit by 20 days. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 4 days of revenue, i.e. 9 k€ to permanently finance. Notable WCR improvement over the period (-85%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 125 490€ to 359 668€ is provided for information purposes only and requires in-depth analysis to be confirmed.