SCI LA FONCIERE DU MARAIS : revenue, balance sheet and financial ratios

In 2019, SCI LA FONCIERE DU MARAIS achieves revenue of 11.4 M€. Over the period 2016-2019, the company shows strong growth with a CAGR (compound annual growth rate) of +200.1%. Vs 2018, growth of +224% (3.5 M€ -> 11.4 M€). After deducting consumption (9.1 M€), gross margin stands at 2.3 M€, i.e. a rate of 20%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 905 k€, representing 7.9% of revenue. Warning negative scissor effect: despite revenue change (+224%), EBITDA varies by +30%, reducing margin by 11.9 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 103 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1953%. 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 5%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 131.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 624.10. 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 273.4x. 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: 56 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 6 days. The gap of 50 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 578 days of revenue, i.e. 18.3 M€ to permanently finance. Over 2016-2019, WCR increased by +93%, requiring additional financing.

Based on 234 transactions of similar company sales in 2019, the value of SCI LA FONCIERE DU MARAIS is estimated at 4 957 090 € (range 1 965 978€ - 8 984 755€). With an EBITDA of 904 698€, the sector multiple of 5.5x is applied. The price/revenue ratio is 0.69x (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.