SEAYARD : revenue, balance sheet and financial ratios

In 2024, SEAYARD achieves revenue of 87.8 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.3%. Vs 2023, growth of +35% (65.0 M€ -> 87.8 M€). After deducting consumption (4.2 M€), gross margin stands at 83.6 M€, i.e. a rate of 95%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.8 M€, representing 3.2% of revenue. Positive scissor effect: EBITDA margin improves by +4.9 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 2.5 M€, i.e. 2.9% 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 43%. 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 2.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 242.90. 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 0.0x. 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: 38 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. Favorable situation: supplier credit is longer than customer credit by 5 days. Inventory turnover is 14 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 93 days of revenue, i.e. 22.7 M€ to permanently finance. Over 2016-2024, WCR increased by +147%, requiring additional financing.

Based on 205 transactions of similar company sales (all years), the value of SEAYARD is estimated at 5 649 848 € (range 3 139 178€ - 16 631 924€). With an EBITDA of 2 835 338€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.