AXON'MECHATRONICS : revenue, balance sheet and financial ratios

In 2024, AXON'MECHATRONICS achieves revenue of 30.1 M€. Revenue is growing positively over 9 years (CAGR: +3.7%). Significant drop of -17% vs 2023. After deducting consumption (14.9 M€), gross margin stands at 15.2 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 176 k€, representing 0.6% of revenue. Warning negative scissor effect: despite revenue change (-17%), EBITDA varies by -93%, reducing margin by 6.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -707 k€ (-2.3% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 22%. 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 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 31.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 242.60. 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 41.3x. 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: 58 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. The company must finance 6 days of gap between collections and payments. Inventory turnover is 109 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 134 days of revenue, i.e. 11.2 M€ to permanently finance. Over 2016-2024, WCR increased by +104%, requiring additional financing.

Based on 61 transactions of similar company sales (all years), the value of AXON'MECHATRONICS is estimated at 3 488 921 € (range 2 372 757€ - 10 654 420€). With an EBITDA of 175 765€, the sector multiple of 1.1x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.