SOCIETE DE PARTICIPATIONS, D'ANIMATION ET DE GESTION : revenue, balance sheet and financial ratios

In 2024, SOCIETE DE PARTICIPATIONS, D'ANIMATION ET DE GESTION achieves revenue of 726 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.3%. Significant drop of -26% vs 2023. After deducting consumption (26 k€), gross margin stands at 700 k€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 55 k€, representing 7.6% of revenue. Warning negative scissor effect: despite revenue change (-26%), EBITDA varies by -42%, reducing margin by 2.1 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 101 k€, i.e. 13.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 85%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 22.6% 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 1779.81. 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 57.2x. 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: 98 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 14 days. The gap of 84 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 2189 days of revenue, i.e. 4.4 M€ to permanently finance. Over 2016-2024, WCR increased by +3730%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of SOCIETE DE PARTICIPATIONS, D'ANIMATION ET DE GESTION is estimated at 278 248 € (range 98 953€ - 573 584€). With an EBITDA of 55 170€, the sector multiple of 4.8x 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.