COPYMIX : revenue, balance sheet and financial ratios

In 2024, COPYMIX achieves revenue of 31.4 M€. Activity remains stable over the period (CAGR: -0.3%). Slight decline of -4% vs 2023. After deducting consumption (26.1 M€), gross margin stands at 5.3 M€, i.e. a rate of 17%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 368 k€, representing 1.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 344 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 17%. 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 42%. 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 5.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 0.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 177.80. 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 29.6x. 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: 27 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. Favorable situation: supplier credit is longer than customer credit by 25 days. Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 69 days of revenue, i.e. 6.0 M€ to permanently finance.

Based on 73 transactions of similar company sales (all years), the value of COPYMIX is estimated at 3 389 995 € (range 3 329 685€ - 3 537 499€). With an EBITDA of 368 272€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.34x (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.