ASSOCIATION DES MANDATAIRES INDEPENDANTS : revenue, balance sheet and financial ratios

In 2024, ASSOCIATION DES MANDATAIRES INDEPENDANTS achieves revenue of 2.2 M€. Revenue is growing positively over 5 years (CAGR: +4.3%). Vs 2023, growth of +32% (1.7 M€ -> 2.2 M€). After deducting consumption (0 €), gross margin stands at 2.2 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 553 k€, representing 24.6% of revenue. Warning negative scissor effect: despite revenue change (+32%), EBITDA varies by -11%, reducing margin by 12.1 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 470 k€, i.e. 20.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 16%. 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 47%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 19.0% 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 219.83. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 145 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 159 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Overall, WCR represents 287 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2020-2024, WCR increased by +48%, requiring additional financing.

Based on 103 transactions of similar company sales (all years), the value of ASSOCIATION DES MANDATAIRES INDEPENDANTS is estimated at 1 224 632 € (range 538 298€ - 2 762 625€). With an EBITDA of 553 014€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.30x (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.