SOCIETE NOUVELLE AFIP : revenue, balance sheet and financial ratios

In 2024, SOCIETE NOUVELLE AFIP achieves revenue of 2.6 M€. Activity remains stable over the period (CAGR: -2.1%). Significant drop of -14% vs 2023. After deducting consumption (272 k€), gross margin stands at 2.3 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 13 k€, representing 0.5% of revenue. Warning negative scissor effect: despite revenue change (-14%), EBITDA varies by -90%, reducing margin by 3.7 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 86 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 74%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 272.23. 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 225.6x. 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: 120 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 122 days. Favorable situation: supplier credit is longer than customer credit by 2 days. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 95 days of revenue, i.e. 690 k€ to permanently finance.

Based on 147 transactions of similar company sales (all years), the value of SOCIETE NOUVELLE AFIP is estimated at 108 245 € (range 69 188€ - 230 640€). With an EBITDA of 12 830€, the sector multiple of 2.0x is applied. The price/revenue ratio is 0.08x (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.