BECKMAN COULTER FRANCE : revenue, balance sheet and financial ratios

In 2024, BECKMAN COULTER FRANCE achieves revenue of 171.2 M€. Revenue is declining over the period 2016-2024 (CAGR: -8.0%). Slight decline of -2% vs 2023. After deducting consumption (100.6 M€), gross margin stands at 70.6 M€, i.e. a rate of 41%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 19.6 M€, representing 11.5% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 19.6 M€, i.e. 11.4% 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 65%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 16.5% 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 269.81. 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 0.3x. 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: 79 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. The gap of 36 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 36 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 75 days of revenue, i.e. 35.7 M€ to permanently finance. Notable WCR improvement over the period (-54%), freeing up cash.

Based on 124 transactions of similar company sales (all years), the value of BECKMAN COULTER FRANCE is estimated at 21 053 148 € (range 10 416 544€ - 69 987 250€). With an EBITDA of 19 599 732€, 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.