MYLA : revenue, balance sheet and financial ratios

In 2024, MYLA achieves revenue of 306 k€. Activity remains stable over the period (CAGR: -3.6%). Slight decline of -1% vs 2023. After deducting consumption (168 k€), gross margin stands at 138 k€, i.e. a rate of 45%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 29 k€, representing 9.4% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -46%, reducing margin by 7.8 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 22 k€, i.e. 7.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 254%. 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 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 19.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 7.3% 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 83.14. 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 26.5x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 180 days. Excellent situation: suppliers finance 180 days of the operating cycle (retail model). Inventory turnover is 104 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 85 days of revenue, i.e. 73 k€ to permanently finance. Notable WCR improvement over the period (-25%), freeing up cash.

Based on 68 transactions of similar company sales in 2024, the value of MYLA is estimated at 61 072 € (range 31 384€ - 133 558€). With an EBITDA of 28 797€, the sector multiple of 2.0x 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.
Medium reliability: estimate to be confirmed with in-depth analysis.