SNC 21 BIS AVENUE DE SEGUR : revenue, balance sheet and financial ratios

In 2021, SNC 21 BIS AVENUE DE SEGUR achieves revenue of 99 k€. Revenue is growing positively over 6 years (CAGR: +2.3%). Vs 2020: +9%. After deducting consumption (0 €), gross margin stands at 99 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 53 k€, representing 53.2% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -28%, reducing margin by 27.7 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 230 k€, i.e. 233.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 389%. 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 20%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 40.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 22.5% 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 8123.06. 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 43.1x. 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: 125 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 12 days. The gap of 113 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 3050 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 4086 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2016-2021, WCR increased by +23%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (29 transactions). This range of 69 795€ to 838 045€ is provided for information purposes only and requires in-depth analysis to be confirmed.