EDITIONS DE MINUIT : revenue, balance sheet and financial ratios

In 2024, EDITIONS DE MINUIT achieves revenue of 3.2 M€. Activity remains stable over the period (CAGR: -0.7%). Slight decline of -2% vs 2023. After deducting consumption (8 k€), gross margin stands at 3.2 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 1.5 M€, representing 47.5% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -8%, reducing margin by 3.0 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 598 k€, i.e. 18.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 15%. 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 50%. 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 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 20.7% 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 217.60. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 104 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. The gap of 56 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 81 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 286 days of revenue, i.e. 2.6 M€ to permanently finance. Over 2016-2024, WCR increased by +3850%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of EDITIONS DE MINUIT is estimated at 1 641 519 € (range 696 064€ - 5 042 515€). With an EBITDA of 1 527 972€, 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.