KAMI : revenue, balance sheet and financial ratios

In 2025, KAMI achieves revenue of 38.7 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +6.1%. Vs 2024: +3%. After deducting consumption (12.5 M€), gross margin stands at 26.2 M€, i.e. a rate of 68%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.4 M€, representing 8.8% of revenue. Positive scissor effect: EBITDA margin improves by +3.1 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.3 M€, i.e. 6.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 13%. 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 49%. 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 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.7% 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 207.09. 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 14.5x. 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: 41 days. Favorable situation: supplier credit is longer than customer credit by 14 days. Inventory turnover is 63 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 101 days of revenue, i.e. 10.8 M€ to permanently finance.

Based on 124 transactions of similar company sales (all years), the value of KAMI is estimated at 7 220 704 € (range 3 023 606€ - 16 264 681€). With an EBITDA of 3 418 589€, 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.