ANTILLES MONETIQUE SYSTEME : revenue, balance sheet and financial ratios

In 2024, ANTILLES MONETIQUE SYSTEME achieves revenue of 476 k€. Activity remains stable over the period (CAGR: -4.1%). Vs 2023: +0%. After deducting consumption (15 k€), gross margin stands at 461 k€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 64 k€, representing 13.5% of revenue. Warning negative scissor effect: despite revenue change (+0%), EBITDA varies by -14%, reducing margin by 2.2 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Net income is negative at -30 k€ (-6.2% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 59%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 53%. 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 12.9% 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 83.19. 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 2.7x. Financial charges are adequately covered by operations.

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: 39 days. Excellent situation: suppliers finance 36 days of the operating cycle (retail model). Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 3 days of revenue, i.e. 4 k€ to permanently finance. Notable WCR improvement over the period (-89%), freeing up cash.

Based on 362 transactions of similar company sales (all years), the value of ANTILLES MONETIQUE SYSTEME is estimated at 92 469 € (range 34 503€ - 272 768€). With an EBITDA of 64 129€, the sector multiple of 1.4x is applied. The price/revenue ratio is 0.20x (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.