MENDIKOA : revenue, balance sheet and financial ratios

In 2025, MENDIKOA achieves revenue of 24.9 M€. Revenue is growing positively over 9 years (CAGR: +4.1%). Vs 2024: +1%. After deducting consumption (20.5 M€), gross margin stands at 4.5 M€, i.e. a rate of 18%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 4.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 354 k€, i.e. 1.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 71%. 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 3.9 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 284.44. 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 49.0x. 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 30 days. Favorable situation: supplier credit is longer than customer credit by 25 days. Inventory turnover is 35 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 63 days of revenue, i.e. 4.3 M€ to permanently finance. Over 2016-2025, WCR increased by +27%, requiring additional financing.

Based on 94 transactions of similar company sales (all years), the value of MENDIKOA is estimated at 1 526 259 € (range 982 343€ - 2 828 165€). With an EBITDA of 1 221 180€, the sector multiple of 0.5x is applied. The price/revenue ratio is 0.15x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.