SINFONI : revenue, balance sheet and financial ratios

In 2024, SINFONI achieves revenue of 5.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +15.7%. Vs 2023, growth of +98% (2.6 M€ -> 5.1 M€). After deducting consumption (69 k€), gross margin stands at 5.1 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.3 M€, representing 24.6% of revenue. Positive scissor effect: EBITDA margin improves by +39.0 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 1.1 M€, i.e. 21.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 198%. 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 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 21.4% 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 167.55. 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 8.1x. 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: 149 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. The gap of 95 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 103 days of revenue, i.e. 1.5 M€ to permanently finance. Over 2016-2024, WCR increased by +260%, requiring additional financing.

Based on 134 transactions of similar company sales (all years), the value of SINFONI is estimated at 2 557 655 € (range 917 929€ - 8 103 619€). With an EBITDA of 1 259 414€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.36x (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.