ALLIANCE PHARMA FRANCE SAS : revenue, balance sheet and financial ratios

In 2024, ALLIANCE PHARMA FRANCE SAS achieves revenue of 17.1 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +6.6%. Vs 2023: +6%. After deducting consumption (8.4 M€), gross margin stands at 8.7 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.1 M€, representing 12.3% of revenue. Positive scissor effect: EBITDA margin improves by +4.8 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 945 k€, i.e. 5.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 3%. 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 60%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.1% 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 200.75. 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 4.6x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 171 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 203 days. Excellent situation: suppliers finance 32 days of the operating cycle (retail model). Inventory turnover is 68 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 308 days of revenue, i.e. 14.6 M€ to permanently finance. Over 2015-2024, WCR increased by +179%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of ALLIANCE PHARMA FRANCE SAS is estimated at 1 989 241 € (range 1 002 083€ - 6 574 620€). With an EBITDA of 2 105 333€, 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.