SECURILOG : revenue, balance sheet and financial ratios

In 2024, SECURILOG achieves revenue of 13.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.5%. Vs 2023, growth of +14% (11.4 M€ -> 13.0 M€). After deducting consumption (484 k€), gross margin stands at 12.6 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.8 M€, representing 21.9% of revenue. Positive scissor effect: EBITDA margin improves by +3.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.8 M€, i.e. 13.5% 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 67%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.5% 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 274.27. 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: 64 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. The company must finance 15 days of gap between collections and payments. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 142 days of revenue, i.e. 5.1 M€ to permanently finance. Over 2016-2024, WCR increased by +228%, requiring additional financing.

Based on 147 transactions of similar company sales (all years), the value of SECURILOG is estimated at 3 875 701 € (range 1 953 128€ - 8 715 217€). With an EBITDA of 2 848 409€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.08x (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.