SERENE INVESTISSEMENTS : revenue, balance sheet and financial ratios

In 2024, SERENE INVESTISSEMENTS achieves revenue of 950 k€. Revenue is declining over the period 2022-2024 (CAGR: -32.8%). Significant drop of -56% vs 2023. After deducting consumption (0 €), gross margin stands at 950 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 2.8% of revenue. Positive scissor effect: EBITDA margin improves by +68.1 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 12.5 M€, i.e. 1321.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 88%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 53%. 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 4.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 1393.7% 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 2194.71. 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 16237.7x. 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: 82 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 126 days. Excellent situation: suppliers finance 44 days of the operating cycle (retail model). Overall, WCR represents 1790 days of revenue, i.e. 4.7 M€ to permanently finance. Over 2022-2024, WCR increased by +168%, requiring additional financing.

Based on 109 transactions of similar company sales (all years), the value of SERENE INVESTISSEMENTS is estimated at 8 521 999 € (range 2 591 113€ - 21 868 713€). With an EBITDA of 26 282€, the sector multiple of 2.9x is applied. The price/revenue ratio is 0.30x (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.