SOS OXYGENE PARTICIPATIONS : revenue, balance sheet and financial ratios

In 2024, SOS OXYGENE PARTICIPATIONS achieves revenue of 80.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.9%. Vs 2022, growth of +30% (62.0 M€ -> 80.9 M€). After deducting consumption (5 k€), gross margin stands at 80.9 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 12.5 M€, representing 15.5% of revenue. Warning negative scissor effect: despite revenue change (+30%), EBITDA varies by -12%, reducing margin by 7.4 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 12.1 M€, i.e. 15.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 292%. 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 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 17.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 15.3% 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 684.76. 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 20.5x. 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: 146 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 69 days. The gap of 77 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 680 days of revenue, i.e. 152.9 M€ to permanently finance. Over 2016-2024, WCR increased by +238%, requiring additional financing.

Based on 103 transactions of similar company sales in 2024, the value of SOS OXYGENE PARTICIPATIONS is estimated at 63 813 278 € (range 17 731 557€ - 132 905 011€). With an EBITDA of 12 539 320€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.