SHADEK HOLDING : revenue, balance sheet and financial ratios

In 2024, SHADEK HOLDING achieves revenue of 86 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +29.6%. Vs 2023, growth of +17% (73 k€ -> 86 k€). After deducting consumption (22 k€), gross margin stands at 63 k€, i.e. a rate of 74%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6 k€, representing 7.5% of revenue. Warning negative scissor effect: despite revenue change (+17%), EBITDA varies by -41%, reducing margin by 7.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2 k€, i.e. 2.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 296%. 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 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 20.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 8.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 433.59. 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 37.6x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 19 days. Favorable situation: supplier credit is longer than customer credit by 18 days. Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 32 days of revenue, i.e. 8 k€ to permanently finance. Over 2016-2024, WCR increased by +261%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of SHADEK HOLDING is estimated at 10 232 € (range 4 312€ - 17 945€). With an EBITDA of 6 413€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.