SERVI IMAGE MEDICAL ART GRAPHIQUE PHOTO : revenue, balance sheet and financial ratios

In 2020, SERVI IMAGE MEDICAL ART GRAPHIQUE PHOTO achieves revenue of 330 k€. Activity remains stable over the period (CAGR: -3.9%). Vs 2017: +6%. After deducting consumption (31 k€), gross margin stands at 299 k€, i.e. a rate of 91%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 36 k€, representing 10.8% of revenue. Positive scissor effect: EBITDA margin improves by +3.8 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 19 k€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 28%. 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 10%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.1% 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 144.14. 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: 93 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 74 days. The company must finance 19 days of gap between collections and payments. Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-16 days): operations structurally generate cash. Over 2016-2020, WCR increased by +72%, requiring additional financing.

Based on 197 transactions of similar company sales (all years), the value of SERVI IMAGE MEDICAL ART GRAPHIQUE PHOTO is estimated at 79 081 € (range 31 165€ - 178 534€). With an EBITDA of 35 680€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.28x (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.