EOM 35 : revenue, balance sheet and financial ratios

In 2025, EOM 35 achieves revenue of 1.5 M€. Revenue is declining over the period 2016-2025 (CAGR: -7.6%). Significant drop of -16% vs 2024. After deducting consumption (724 k€), gross margin stands at 803 k€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 109 k€, representing 7.2% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -52%, reducing margin by 5.3 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 631 k€, i.e. 41.3% 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 88%. 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 9.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 847.37. 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 4.0x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 34 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. The company must finance 1 days of gap between collections and payments. Overall, WCR represents 420 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2016-2025, WCR increased by +497%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of EOM 35 is estimated at 501 144 € (range 172 253€ - 1 016 213€). With an EBITDA of 109 339€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.17x (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.