NEMOA : revenue, balance sheet and financial ratios

In 2024, NEMOA achieves revenue of 7.6 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.0%. Vs 2023, growth of +176% (2.8 M€ -> 7.6 M€). After deducting consumption (0 €), gross margin stands at 7.6 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.3 M€, representing 82.8% of revenue. Positive scissor effect: EBITDA margin improves by +48.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.5 M€, i.e. 19.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 147%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 40%. 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 28.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 33.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 4038.25. 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 68.4x. 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: 35 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 96 days. Excellent situation: suppliers finance 61 days of the operating cycle (retail model). Inventory turnover is 1192 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 1212 days of revenue, i.e. 25.7 M€ to permanently finance. Notable WCR improvement over the period (-23%), freeing up cash.

Based on 169 transactions of similar company sales in 2024, the value of NEMOA is estimated at 21 491 697 € (range 5 976 681€ - 38 565 614€). With an EBITDA of 6 309 982€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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.