ATLAS MEDICAL : revenue, balance sheet and financial ratios

In 2024, ATLAS MEDICAL achieves revenue of 2.5 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +97.0%. Vs 2023, growth of +23% (2.1 M€ -> 2.5 M€). After deducting consumption (159 k€), gross margin stands at 2.4 M€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 249 k€, representing 9.8% of revenue. Positive scissor effect: EBITDA margin improves by +9.6 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 196 k€, i.e. 7.7% 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 -76%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.0% 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 49.49. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 39 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 405 days. Excellent situation: suppliers finance 366 days of the operating cycle (retail model). Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 106 days of revenue, i.e. 752 k€ to permanently finance. Over 2017-2024, WCR increased by +6707%, requiring additional financing.

Based on 69 transactions of similar company sales (all years), the value of ATLAS MEDICAL is estimated at 1 077 392 € (range 477 927€ - 2 280 993€). With an EBITDA of 248 953€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.40x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.