EMI ACCESSOIRES MODE : revenue, balance sheet and financial ratios

In 2024, EMI ACCESSOIRES MODE achieves revenue of 2.8 M€. Activity remains stable over the period (CAGR: -2.5%). Vs 2023: +1%. After deducting consumption (1.4 M€), gross margin stands at 1.4 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 161 k€, representing 5.8% of revenue. Positive scissor effect: EBITDA margin improves by +2.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 93 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 64%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 277.39. 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 24.1x. 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: 70 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. The company must finance 10 days of gap between collections and payments. Inventory turnover is 195 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 234 days of revenue, i.e. 1.8 M€ to permanently finance.

Based on 145 transactions of similar company sales (all years), the value of EMI ACCESSOIRES MODE is estimated at 431 908 € (range 179 016€ - 1 109 289€). With an EBITDA of 161 312€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.