STATICE MANUFACTURING : revenue, balance sheet and financial ratios

In 2023, STATICE MANUFACTURING achieves revenue of 9.3 M€. Revenue is growing positively over 4 years (CAGR: +4.4%). Vs 2018, growth of +36% (6.8 M€ -> 9.3 M€). After deducting consumption (2.5 M€), gross margin stands at 6.7 M€, i.e. a rate of 73%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.0 M€, representing 10.9% of revenue. Positive scissor effect: EBITDA margin improves by +2.6 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 500 k€, i.e. 5.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 29%. 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 50%. 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 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 11.2% 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 241.18. 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 5.9x. 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: 95 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 142 days. Excellent situation: suppliers finance 47 days of the operating cycle (retail model). Inventory turnover is 140 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 239 days of revenue, i.e. 6.1 M€ to permanently finance. Over 2016-2023, WCR increased by +104%, requiring additional financing.

Based on 57 transactions of similar company sales (all years), the value of STATICE MANUFACTURING is estimated at 2 223 560 € (range 617 186€ - 4 302 758€). With an EBITDA of 1 014 537€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.23x (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.