SO'HAM SUD-OUEST : revenue, balance sheet and financial ratios

In 2024, SO'HAM SUD-OUEST achieves revenue of 59.9 M€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +45.7%. Vs 2023, growth of +17% (51.2 M€ -> 59.9 M€). After deducting consumption (44.1 M€), gross margin stands at 15.9 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.7 M€, representing 7.8% of revenue. Positive scissor effect: EBITDA margin improves by +4.5 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.0 M€, i.e. 3.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -2743%. 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 -2%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 5.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 103.19. 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 13.8x. 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: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 18 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 21 days of revenue, i.e. 3.4 M€ to permanently finance.

Based on 108 transactions of similar company sales (all years), the value of SO'HAM SUD-OUEST is estimated at 14 883 497 € (range 8 223 507€ - 31 844 670€). With an EBITDA of 4 665 544€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.26x (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.