ALMIRALL SAS : revenue, balance sheet and financial ratios

In 2024, ALMIRALL SAS achieves revenue of 41.4 M€. Revenue is growing positively over 9 years (CAGR: +0.8%). Slight decline of -4% vs 2023. After deducting consumption (21.2 M€), gross margin stands at 20.2 M€, i.e. a rate of 49%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.0 M€, representing 4.9% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -33%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.8 M€, i.e. 4.3% 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 61%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 5.1% 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 248.68. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 66 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 66 days. Inventory turnover is 11 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 228 days of revenue, i.e. 26.2 M€ to permanently finance. Notable WCR improvement over the period (-30%), freeing up cash.

Based on 124 transactions of similar company sales (all years), the value of ALMIRALL SAS is estimated at 3 661 523 € (range 1 887 845€ - 11 713 565€). With an EBITDA of 2 042 102€, 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.