SOC ECONOMIE MIXTE IMMOBILIERE DE VELIZY : revenue, balance sheet and financial ratios

In 2023, SOC ECONOMIE MIXTE IMMOBILIERE DE VELIZY achieves revenue of 24.7 M€. Revenue is growing positively over 8 years (CAGR: +1.5%). Vs 2022: +5%. After deducting consumption (0 €), gross margin stands at 24.7 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.9 M€, representing 31.8% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -20%, reducing margin by 9.7 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 143 k€, i.e. 0.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 354%. 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 21%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 24.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 17.5% 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 535.39. 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 55.6x. 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: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Favorable situation: supplier credit is longer than customer credit by 25 days. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 17 days of revenue, i.e. 1.2 M€ to permanently finance. Over 2016-2023, WCR increased by +260%, requiring additional financing.

Based on 215 transactions of similar company sales in 2023, the value of SOC ECONOMIE MIXTE IMMOBILIERE DE VELIZY is estimated at 24 185 412 € (range 6 917 053€ - 41 490 440€). With an EBITDA of 7 855 056€, the sector multiple of 5.2x is applied. The price/revenue ratio is 0.51x (in line with sector norms). 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.