CONMED FRANCE : revenue, balance sheet and financial ratios

In 2024, CONMED FRANCE achieves revenue of 19.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.4%. Vs 2023, growth of +11% (17.3 M€ -> 19.1 M€). After deducting consumption (3.9 M€), gross margin stands at 15.2 M€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.7 M€, representing 14.0% of revenue. Positive scissor effect: EBITDA margin improves by +8.4 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 1.5 M€, i.e. 7.9% 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 70%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 10.3% 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 254.67. 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 0.4x. 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: 120 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. The gap of 68 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 29 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 131 days of revenue, i.e. 6.9 M€ to permanently finance. Over 2016-2024, WCR increased by +196%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of CONMED FRANCE is estimated at 2 416 657 € (range 1 204 636€ - 8 051 876€). With an EBITDA of 2 685 819€, 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.