SERTEL : revenue, balance sheet and financial ratios

SERTEL is a French company founded 39 years ago, specialized in the sector Post-production de films cinématographiques, de vidéo et de programmes de télévision. Based in SAINT-HILAIRE-DE-CLISSON (44190), this company of category PME shows in 2020 a revenue of 233 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - SERTEL (SIREN 339717605)
Indicator 2020 2017 2016
Revenue 233 267 € 583 867 € 704 486 €
Net income -21 629 € -3 393 € 33 273 €
EBITDA 23 336 € 75 217 € 138 014 €
Net margin -9.3% -0.6% 4.7%

Revenue and income statement

In 2020, SERTEL achieves revenue of 233 k€. Revenue is declining over the period 2016-2020 (CAGR: -24.1%). Significant drop of -60% vs 2017. After deducting consumption (0 €), gross margin stands at 233 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 23 k€, representing 10.0% of revenue. Warning negative scissor effect: despite revenue change (-60%), EBITDA varies by -69%, reducing margin by 2.9 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Net income is negative at -22 k€ (-9.3% of revenue), which will impact equity.

Revenue (2020) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

233 267 €

Gross margin (2020) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

233 267 €

EBITDA (2020) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

23 336 €

EBIT (2020) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-1 145 €

Net income (2020) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-21 629 €

EBITDA margin (2020) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

9.8%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 156%. 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 11.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 6.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

Debt ratio (2020) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

155.954%

Financial autonomy (2020) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

33.018%

Cash flow / Revenue (2020) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

6.937%

Repayment capacity (2020) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

11.626

Asset age ratio (2020) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

20.6%

Solvency indicators evolution
SERTEL

Sector positioning

Debt ratio
155.95 2020
2016
2017
2020
Q1: 0.0
Med: 9.52
Q3: 60.21
Watch

In 2020, the debt ratio of SERTEL (155.95) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
33.02% 2020
2016
2017
2020
Q1: 5.34%
Med: 34.17%
Q3: 63.76%
Average +9 pts over 3 years

In 2020, the financial autonomy of SERTEL (33.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
11.63 years 2020
2016
2017
2020
Q1: -0.02 years
Med: 0.0 years
Q3: 1.28 years
Watch

In 2020, the repayment capacity of SERTEL (11.63) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 378.27. 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 91.3x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2020) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

378.275

Interest coverage (2020) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

91.344

Liquidity indicators evolution
SERTEL

Sector positioning

Liquidity ratio
378.27 2020
2016
2017
2020
Q1: 122.89
Med: 212.06
Q3: 359.53
Excellent

In 2020, the liquidity ratio of SERTEL (378.27) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
91.34x 2020
2016
2017
2020
Q1: 0.0x
Med: 0.0x
Q3: 0.74x
Excellent

In 2020, the interest coverage of SERTEL (91.3x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 243 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 216 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 220 days of revenue, i.e. 143 k€ to permanently finance. Notable WCR improvement over the period (-45%), freeing up cash.

Operating WCR (2020) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

142 752 €

Customer credit (2020) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

243 j

Supplier credit (2020) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

27 j

Inventory turnover (2020) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

0 j

WCR in days of revenue (2020) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

220 j

WCR and payment terms evolution
SERTEL

Positioning of SERTEL in its sector

Comparison with sector Post-production de films cinématographiques, de vidéo et de programmes de télévision

Valuation estimate

Based on 88 transactions of similar company sales (all years), the value of SERTEL is estimated at 49 104 € (range 29 054€ - 116 078€). With an EBITDA of 23 336€, the sector multiple of 1.4x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2020
88 tx
29k€ 49k€ 116k€
49 104 € Range: 29 054€ - 116 078€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
23 336 € × 1.4x
Estimation 33 415 €
13 113€ - 88 825€
Revenue Multiple 30%
233 267 € × 0.32x
Estimation 75 253 €
55 624€ - 161 500€
How is this estimate calculated?

This estimate is based on the analysis of 88 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Post-production de films cinématographiques, de vidéo et de programmes de télévision)

Compare SERTEL with other companies in the same sector:

Voir toutes les statistiques du secteur Post-production de films cinématographiques, de vidéo et de programmes de télévision

Frequently asked questions about SERTEL

What is the revenue of SERTEL ?

The revenue of SERTEL in 2020 is 233 k€.

Is SERTEL profitable?

SERTEL recorded a net loss in 2020.

Where is the headquarters of SERTEL ?

The headquarters of SERTEL is located in SAINT-HILAIRE-DE-CLISSON (44190), in the department Loire-Atlantique.

Where to find the tax return of SERTEL ?

The tax return of SERTEL is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does SERTEL operate?

SERTEL operates in the sector Post-production de films cinématographiques, de vidéo et de programmes de télévision (NAF code 59.12Z). See the 'Sector positioning' section above to compare the company with its competitors.