IQVIA OPERATIONS FRANCE SAS : revenue, balance sheet and financial ratios

In 2024, IQVIA OPERATIONS FRANCE SAS achieves revenue of 141.7 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.3%. Slight decline of -7% vs 2023. After deducting consumption (0 €), gross margin stands at 141.7 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 12.7 M€, representing 8.9% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -41%, reducing margin by 5.2 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 16.8 M€, i.e. 11.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 52%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 6.5% 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 120.03. 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 5.3x. 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: 106 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 111 days. Favorable situation: supplier credit is longer than customer credit by 5 days. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 35 days of revenue, i.e. 13.7 M€ to permanently finance.

Based on 107 transactions of similar company sales (all years), the value of IQVIA OPERATIONS FRANCE SAS is estimated at 35 307 388 € (range 12 955 893€ - 78 274 149€). With an EBITDA of 12 662 787€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.23x (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.