MIMO SARL : revenue, balance sheet and financial ratios

In 2024, MIMO SARL achieves revenue of 410 k€. Activity remains stable over the period (CAGR: -1.1%). Vs 2020, growth of +134% (176 k€ -> 410 k€). After deducting consumption (246 k€), gross margin stands at 164 k€, i.e. a rate of 40%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 6.4% of revenue. Warning negative scissor effect: despite revenue change (+134%), EBITDA varies by -5%, reducing margin by 9.3 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 18 k€, i.e. 4.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 212%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 20%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 233.40. 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 10.6x. 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: 85 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 10 days. The gap of 75 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 116 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 168 days of revenue, i.e. 192 k€ to permanently finance. Over 2016-2024, WCR increased by +170%, requiring additional financing.

Based on 148 transactions of similar company sales in 2024, the value of MIMO SARL is estimated at 50 423 € (range 22 012€ - 96 427€). With an EBITDA of 26 348€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.16x (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.