NOMERES INVESTISSEMENTS : revenue, balance sheet and financial ratios

In 2022, NOMERES INVESTISSEMENTS achieves revenue of 1.1 M€. Over the period 2020-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +404.7%. Significant drop of -79% vs 2021. After deducting consumption (196 k€), gross margin stands at 906 k€, i.e. a rate of 82%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 121 k€, representing 11.0% of revenue. Positive scissor effect: EBITDA margin improves by +8.1 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 86 k€, i.e. 7.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 861%. 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 10%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 13.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 7.1% 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 1126.18. 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 9.5x. 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: 42 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 4 days. The gap of 38 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 115 days of revenue, i.e. 351 k€ to permanently finance. Notable WCR improvement over the period (-93%), freeing up cash.

Based on 241 transactions of similar company sales in 2022, the value of NOMERES INVESTISSEMENTS is estimated at 489 497 € (range 207 824€ - 1 227 738€). With an EBITDA of 120 758€, the sector multiple of 3.3x is applied. The price/revenue ratio is 0.68x (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.