COOPERATIVE VETERINAIRE DE L'OUEST : revenue, balance sheet and financial ratios

COOPERATIVE VETERINAIRE DE L'OUEST is a French company founded 50 years ago, specialized in the sector Centrales d'achat non alimentaires. Based in MONTAIGU-VENDEE (85600), this company of category ETI shows in 2022 a revenue of 235.5 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - COOPERATIVE VETERINAIRE DE L'OUEST (SIREN 305809741)
Indicator 2022 2021 2020 2019 2018 2017 2016 2015
Revenue 235 452 647 € 237 437 430 € 203 116 413 € 194 333 209 € 188 030 343 € 169 421 748 € 166 678 406 € 161 964 344 €
Net income 1 704 474 € 3 785 749 € 2 975 624 € 2 511 439 € -3 358 887 € 2 255 783 € 2 455 229 € 2 682 525 €
EBITDA 3 617 790 € 5 509 417 € 4 724 236 € 3 965 309 € 3 087 699 € 2 667 867 € 2 863 423 € 3 079 660 €
Net margin 0.7% 1.6% 1.5% 1.3% -1.8% 1.3% 1.5% 1.7%

Revenue and income statement

In 2022, COOPERATIVE VETERINAIRE DE L'OUEST achieves revenue of 235.5 M€. Over the period 2015-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +5.5%. Slight decline of -1% vs 2021. After deducting consumption (204.5 M€), gross margin stands at 31.0 M€, i.e. a rate of 13%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.6 M€, representing 1.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.7 M€, i.e. 0.7% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

235 452 647 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

30 978 337 €

EBITDA (2022) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

3 617 790 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

2 550 207 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

1 704 474 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

1.5%

Loading income statement...

Chart evolution

Show :

Assets

Loading data...

Liabilities

Loading data...

Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 26%. 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 38%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

26.215%

Financial autonomy (2022) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

37.922%

Cash flow / Revenue (2022) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

1.128%

Repayment capacity (2022) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

2.01

Asset age ratio (2022) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

39.0%

Solvency indicators evolution
COOPERATIVE VETERINAIRE DE L'OUEST

Sector positioning

Debt ratio
26.21 2022
2020
2021
2022
Q1: 0.0
Med: 6.63
Q3: 65.84
Average

In 2022, the debt ratio of COOPERATIVE VETERINAIRE D... (26.21) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
37.92% 2022
2020
2021
2022
Q1: 11.89%
Med: 29.53%
Q3: 56.38%
Good

In 2022, the financial autonomy of COOPERATIVE VETERINAIRE D... (37.9%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
2.01 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.1 years
Q3: 2.69 years
Average +9 pts over 3 years

In 2022, the repayment capacity of COOPERATIVE VETERINAIRE D... (2.01) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 168.63. 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 117.1x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2022) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

168.628

Interest coverage (2022) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

117.083

Liquidity indicators evolution
COOPERATIVE VETERINAIRE DE L'OUEST

Sector positioning

Liquidity ratio
168.63 2022
2020
2021
2022
Q1: 117.78
Med: 173.26
Q3: 320.93
Average -7 pts over 3 years

In 2022, the liquidity ratio of COOPERATIVE VETERINAIRE D... (168.63) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
117.08x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.35x
Q3: 6.11x
Excellent

In 2022, the interest coverage of COOPERATIVE VETERINAIRE D... (117.1x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 34 days. Favorable situation: supplier credit is longer than customer credit by 12 days. Inventory turnover is 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 56 days of revenue, i.e. 36.6 M€ to permanently finance. Over 2015-2022, WCR increased by +54%, requiring additional financing.

Operating WCR (2022) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

36 601 114 €

Customer credit (2022) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

22 j

Supplier credit (2022) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

34 j

Inventory turnover (2022) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

30 j

WCR in days of revenue (2022) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

56 j

WCR and payment terms evolution
COOPERATIVE VETERINAIRE DE L'OUEST

Positioning of COOPERATIVE VETERINAIRE DE L'OUEST in its sector

Comparison with sector Centrales d'achat non alimentaires

Valuation estimate

Based on 85 transactions of similar company sales (all years), the value of COOPERATIVE VETERINAIRE DE L'OUEST is estimated at 25 068 307 € (range 13 910 478€ - 64 516 623€). With an EBITDA of 3 617 790€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.32x (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.

Estimated enterprise value 2022
85 tx
13910k€ 25068k€ 64516k€
25 068 307 € Range: 13 910 478€ - 64 516 623€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
3 617 790 € × 1.0x
Estimation 3 560 828 €
1 954 776€ - 15 781 534€
Revenue Multiple 30%
235 452 647 € × 0.32x
Estimation 76 066 082 €
42 366 348€ - 180 753 283€
Net Income Multiple 20%
1 704 474 € × 1.4x
Estimation 2 340 342 €
1 115 931€ - 11 999 361€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 85 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Centrales d'achat non alimentaires)

Compare COOPERATIVE VETERINAIRE DE L'OUEST with other companies in the same sector:

Voir toutes les statistiques du secteur Centrales d'achat non alimentaires

Frequently asked questions about COOPERATIVE VETERINAIRE DE L'OUEST

What is the revenue of COOPERATIVE VETERINAIRE DE L'OUEST ?

The revenue of COOPERATIVE VETERINAIRE DE L'OUEST in 2022 is 235.5 M€.

Is COOPERATIVE VETERINAIRE DE L'OUEST profitable?

Yes, COOPERATIVE VETERINAIRE DE L'OUEST generated a net profit of 1.7 M€ in 2022.

Where is the headquarters of COOPERATIVE VETERINAIRE DE L'OUEST ?

The headquarters of COOPERATIVE VETERINAIRE DE L'OUEST is located in MONTAIGU-VENDEE (85600), in the department Vendee.

Where to find the tax return of COOPERATIVE VETERINAIRE DE L'OUEST ?

The tax return of COOPERATIVE VETERINAIRE DE L'OUEST is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does COOPERATIVE VETERINAIRE DE L'OUEST operate?

COOPERATIVE VETERINAIRE DE L'OUEST operates in the sector Centrales d'achat non alimentaires (NAF code 46.19A). See the 'Sector positioning' section above to compare the company with its competitors.