1. France Stocks

  2. •

    Retail trade

  3. •

    Specialty stores
Kumulus Vape SA

Kumulus Vape SA

2.93
EUR
+0.05
(+1.74%)
10.81MMarket Cap
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.7
1.52
3.27
5.31
9.08
12.12
19.05
19.64
19.75
19.08
- -
Basic EPS, GAAP
0.02
0.07
0.14
0.04
0.33
0.47
0.76
0.83
0.86
0.33
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
-1.01
1.14
-0.47
0.68
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
0.1
0.1
0.15
0.17
- -
Book Value per Share
0.12
0.31
0.46
0.6
1.9
3.26
4.02
4.88
5.38
6.19
6.19
Tangible Book Value per Share
0.12
0.31
0.42
0.53
1.85
3.21
3.98
4.85
4.37
5.1
5.1
Basic Weighted Avg Shares
2
2
2
2
2
3
3
3
3
3
3
Sales/Revenue/Turnover
1
3
7
11
23
34
56
60
61
58
- -
Operating Margin (%)
3.87
5.95
5.35
2.37
5.32
5.87
5.59
6.06
5.9
3.41
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
1
1
- -
Net Income, GAAP
- -
- -
- -
- -
1
1
2
3
3
1
- -
Effective Tax Rate (%)
- -
21.93
22.81
19.65
28.37
30.82
25.64
25.26
27.76
31.18
- -
Profit Margin (%)
3.48
4.54
4.34
0.73
3.67
3.87
3.99
4.22
4.35
1.73
- -
Working Capital
- -
1
1
1
5
9
12
15
12
15
15
LT Debt
- -
- -
- -
- -
1
- -
1
4
- -
3
3
Total Equity
- -
1
1
1
5
9
12
15
16
17
17
Return on Invested Capital (%)
- -
25.88
24.82
8.23
19.48
16.35
18.58
15.87
12.66
6.44
- -
Return on Capital (%)
- -
31.6
31.14
5.98
22.36
17.52
20.11
16.66
14.21
5.37
- -
Return on Common Equity (%)
- -
31.62
36.9
7.4
27.95
19.04
21.14
18.99
16.82
5.95
- -

Capital Structure

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
4
- -
1
LT Borrowings
- -
3
3
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3
3
3
Market Capitalization
16
15
11

Working Capital

EUR

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
23
22
23
Cash, Cash Equivalents & STI
6
4
6
Accounts Receivable, Net
3
4
3
Inventories
11
10
9
Total Current Liabilities
10
6
8
Payables & Accruals
- -
- -
- -
ST Debt
4
- -
1
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
32.74%
2.86%
Free Cash Flow
- -
- -
-242.39%
Net Income, GAAP
- -
16.86%
-62.35%
Sales/Revenue/Turnover
- -
23.71%
-5.24%
Total Cash Common Dividend
- -
- -
13.3%

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
60
2024
- -
- -
61
2025
- -
- -
58

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.83
2024
- -
- -
0.86
2025
- -
- -
0.33

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.1
2024
- -
- -
0.15
2025
- -
- -
0.17

Company Description

Company Profile APIChatGPT
CEO
Rémi Baert
Full Time Employees
101
Sector
Retail trade
Industry
Specialty stores
Address
21, rue Marcel MErieux Corbas France 69960
IPO Date
May 28, 2019
Website
kumulusvape.fr
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Business
Kumulus Vape S.A. (ALVAP.PA) operates as a leading French e-commerce distributor of vaping products, including electronic cigarettes, e-liquids, and accessories, serving both B2C and B2B customers through platforms such as kumulusvape.fr and kmls.fr. The company offers an extensive catalog exceeding 11,000 references from over 250 brands, encompassing equipment like electronic cigarettes, boxes, batteries, puffs, pods, clearomizers, resistors, tanks, drippers, and pod cartridges; e-liquids; accessories including drip tips, resistive wires, cottons, tools, battery chargers, cables, covers, and storage products; as well as CBD and DIY products under proprietary brands such as MYTHIK, MEXICAN, MASTER DIY, KING SIZE, WE ARE VAPE, and RELIGION JUICE. Founded in 2012 and headquartered in Corbas near Lyon, France, Kumulus Vape maintains an omnichannel presence with its Cigaverte franchise network and focuses on the French market while emphasizing regulatory compliance, product quality, and harm reduction as a safer alternative to traditional tobacco. In recent developments, the company reported consolidated 2024 revenue of €60.8 million, driven by a 14% increase in Cigaverte store sales amid B2B market pressures, and targets €62 million in 2025 through expanded distribution agreements, new franchise openings, logistics automation, and strengthened in-house brands; additionally, it executed a share buyback program in September 2025, acquiring 289,631 shares from shareholder Nextstage AM, and continues optimizing its operations for industry transformation.