SBM SUPPLY CHAIN ET SERVICES : revenue, balance sheet and financial ratios

In 2024, SBM SUPPLY CHAIN ET SERVICES achieves revenue of 105.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +245.0%. Vs 2023, growth of +32% (79.5 M€ -> 105.3 M€). After deducting consumption (61.1 M€), gross margin stands at 44.2 M€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.9 M€, representing 6.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.1 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 14 k€, i.e. 0.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1175%. 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 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 14.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 195.95. 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 28.5x. 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: 95 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. The gap of 41 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 26 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 126 days of revenue, i.e. 36.8 M€ to permanently finance. Over 2016-2024, WCR increased by +630670%, requiring additional financing.

Based on 229 transactions of similar company sales (all years), the value of SBM SUPPLY CHAIN ET SERVICES is estimated at 15 849 549 € (range 6 632 502€ - 43 680 111€). With an EBITDA of 6 900 877€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.