DELPHARM HUNINGUE SAS : revenue, balance sheet and financial ratios

In 2025, DELPHARM HUNINGUE SAS achieves revenue of 53.7 M€. Revenue is growing positively over 9 years (CAGR: +3.4%). Slight decline of -4% vs 2024. After deducting consumption (21.2 M€), gross margin stands at 32.6 M€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 15 k€, representing 0.0% of revenue. Warning negative scissor effect: despite revenue change (-4%), EBITDA varies by -99%, reducing margin by 4.1 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -3.8 M€ (-7.1% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 57%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory.

The liquidity ratio (= Current assets / Current liabilities) stands at 122.05. 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 5647.5x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 14 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 89 days. Excellent situation: suppliers finance 75 days of the operating cycle (retail model). Inventory turnover is 82 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 32 days of revenue, i.e. 4.8 M€ to permanently finance. Notable WCR improvement over the period (-30%), freeing up cash.