STADE : revenue, balance sheet and financial ratios

In 2025, STADE achieves revenue of 1.1 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +5.1%. Vs 2024, growth of +77% (594 k€ -> 1.1 M€). After deducting consumption (644 k€), gross margin stands at 408 k€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 49 k€, representing 4.6% of revenue. Warning negative scissor effect: despite revenue change (+77%), EBITDA varies by -41%, reducing margin by 9.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -2 k€ (-0.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 71%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 264.98. 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 1.4x. 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: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 126 days. Excellent situation: suppliers finance 123 days of the operating cycle (retail model). Inventory turnover is 188 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 369 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2016-2025, WCR increased by +412%, requiring additional financing.

Based on 51 transactions of similar company sales in 2025, the value of STADE is estimated at 110 953 € (range 59 479€ - 454 122€). With an EBITDA of 48 629€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.17x (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.