NUMERICA : revenue, balance sheet and financial ratios

In 2024, NUMERICA achieves revenue of 1.5 M€. Revenue is growing positively over 9 years (CAGR: +3.8%). Significant drop of -30% vs 2023. After deducting consumption (318 €), gross margin stands at 1.5 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 400 k€, representing 26.8% of revenue. Warning negative scissor effect: despite revenue change (-30%), EBITDA varies by -44%, reducing margin by 6.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 121 k€, i.e. 8.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 73%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 12.5% 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 506.86. 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 7.6x. 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: 94 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 78 days. The company must finance 16 days of gap between collections and payments. Overall, WCR represents 39 days of revenue, i.e. 163 k€ to permanently finance. Notable WCR improvement over the period (-66%), freeing up cash.

Based on 215 transactions of similar company sales (all years), the value of NUMERICA is estimated at 303 224 € (range 127 887€ - 1 100 510€). With an EBITDA of 400 418€, the sector multiple of 1.0x 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.