AGRIPHARM SANTE ANIMALE : revenue, balance sheet and financial ratios

In 2024, AGRIPHARM SANTE ANIMALE achieves revenue of 45.5 M€. Activity remains stable over the period (CAGR: -0.7%). Slight decline of -1% vs 2023. After deducting consumption (41.5 M€), gross margin stands at 4.0 M€, i.e. a rate of 9%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 732 k€, representing 1.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 430 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 64%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.3 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 1.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 126.73. 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 17.7x. 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: 31 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. Excellent situation: suppliers finance 31 days of the operating cycle (retail model). Inventory turnover is 31 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 67 days of revenue, i.e. 8.5 M€ to permanently finance. Notable WCR improvement over the period (-21%), freeing up cash.

Based on 124 transactions of similar company sales (all years), the value of AGRIPHARM SANTE ANIMALE is estimated at 3 237 841 € (range 1 726 454€ - 10 008 866€). With an EBITDA of 732 201€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.