SAS TEC INOX : revenue, balance sheet and financial ratios

In 2024, SAS TEC INOX achieves revenue of 9.5 M€. Revenue is growing positively over 9 years (CAGR: +1.6%). Slight decline of -6% vs 2023. After deducting consumption (2.5 M€), gross margin stands at 7.0 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 696 k€, representing 7.3% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -31%, reducing margin by 2.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 309 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 55%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 6.6% 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 424.35. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 37 days. The company must finance 4 days of gap between collections and payments. Inventory turnover is 102 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 84 days of revenue, i.e. 2.2 M€ to permanently finance.

Based on 276 transactions of similar company sales (all years), the value of SAS TEC INOX is estimated at 1 304 859 € (range 517 488€ - 3 079 570€). With an EBITDA of 695 521€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.