C.M.I (CONSTRUCTION MODULAIRE INDUSTRIELLE) : revenue, balance sheet and financial ratios

In 2024, C.M.I (CONSTRUCTION MODULAIRE INDUSTRIELLE) achieves revenue of 6.7 M€. Over the period 2013-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.4%. Significant drop of -15% vs 2023. After deducting consumption (2.2 M€), gross margin stands at 4.5 M€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 706 k€, representing 10.5% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 473 k€, i.e. 7.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 74%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.4% 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 434.54. 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 0.4x. 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: 120 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 68 days. The gap of 52 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 90 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 254 days of revenue, i.e. 4.7 M€ to permanently finance. Over 2013-2024, WCR increased by +134%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of C.M.I (CONSTRUCTION MODULAIRE INDUSTRIELLE) is estimated at 807 072 € (range 503 868€ - 1 838 120€). With an EBITDA of 706 394€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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.