CONNEXITE SANTE : revenue, balance sheet and financial ratios

In 2024, CONNEXITE SANTE achieves revenue of 2.9 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +21.1%. Vs 2023, growth of +11% (2.6 M€ -> 2.9 M€). After deducting consumption (0 €), gross margin stands at 2.9 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 717 k€, representing 24.7% of revenue. Warning negative scissor effect: despite revenue change (+11%), EBITDA varies by -40%, reducing margin by 20.7 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 529 k€, i.e. 18.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 275%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 14%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 18.4% 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 180.53. 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 4.7x. 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: 349 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. The gap of 276 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 208 days of revenue, i.e. 1.7 M€ to permanently finance. Over 2019-2024, WCR increased by +44%, requiring additional financing.

Based on 447 transactions of similar company sales (all years), the value of CONNEXITE SANTE is estimated at 1 724 772 € (range 572 977€ - 3 868 435€). With an EBITDA of 716 909€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.37x (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.