SOCIETE FINANCIERE SERVAP : revenue, balance sheet and financial ratios

In 2024, SOCIETE FINANCIERE SERVAP achieves revenue of 2.0 M€. Revenue is growing positively over 9 years (CAGR: +2.1%). Vs 2023: +4%. After deducting consumption (71 k€), gross margin stands at 1.9 M€, i.e. a rate of 96%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 362 k€, representing 18.2% of revenue. Warning negative scissor effect: despite revenue change (+4%), EBITDA varies by -8%, reducing margin by 2.4 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 248 k€, i.e. 12.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 66%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 14.4% 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 167.10. 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 1.7x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 122 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 164 days. Excellent situation: suppliers finance 42 days of the operating cycle (retail model). Overall, WCR represents 94 days of revenue, i.e. 517 k€ to permanently finance. Over 2016-2024, WCR increased by +196%, requiring additional financing.

Based on 53 transactions of similar company sales (all years), the value of SOCIETE FINANCIERE SERVAP is estimated at 838 491 € (range 339 022€ - 1 385 565€). With an EBITDA of 362 224€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.35x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.