EDITIONS ALBIN MICHEL : revenue, balance sheet and financial ratios

In 2024, EDITIONS ALBIN MICHEL achieves revenue of 103.5 M€. Revenue is growing positively over 5 years (CAGR: +3.0%). Vs 2023, growth of +12% (92.7 M€ -> 103.5 M€). After deducting consumption (9.3 M€), gross margin stands at 94.2 M€, i.e. a rate of 91%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 37.1 M€, representing 35.8% of 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 14.9 M€, i.e. 14.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 57%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 18.0% 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 180.63. 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 7.7x. 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: 103 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 82 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 69 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 176 days of revenue, i.e. 50.5 M€ to permanently finance. Over 2016-2024, WCR increased by +1014%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of EDITIONS ALBIN MICHEL is estimated at 42 058 308 € (range 17 897 493€ - 126 543 855€). With an EBITDA of 37 075 557€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.24x (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.