SOTIS 38 : revenue, balance sheet and financial ratios

In 2024, SOTIS 38 achieves revenue of 3.9 M€. Revenue is growing positively over 9 years (CAGR: +4.4%). Significant drop of -43% vs 2023. After deducting consumption (713 k€), gross margin stands at 3.2 M€, i.e. a rate of 82%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 657 k€, representing 16.8% of revenue. Positive scissor effect: EBITDA margin improves by +2.5 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3 k€, i.e. 0.1% 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 46%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

The liquidity ratio (= Current assets / Current liabilities) stands at 203.05. 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 101.5x. 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: 113 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 81 days. The gap of 32 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 17 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 205 days of revenue, i.e. 2.2 M€ to permanently finance. Over 2016-2024, WCR increased by +251%, requiring additional financing.

Based on 98 transactions of similar company sales (all years), the value of SOTIS 38 is estimated at 532 023 € (range 273 798€ - 1 335 574€). With an EBITDA of 656 725€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.18x (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.