DT2 SANTE : revenue, balance sheet and financial ratios

In 2024, DT2 SANTE achieves revenue of 1.5 M€. Over the period 2017-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.2%. Vs 2022, growth of +75% (837 k€ -> 1.5 M€). After deducting consumption (205 k€), gross margin stands at 1.3 M€, i.e. a rate of 86%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 282 k€, representing 19.2% of revenue. Warning negative scissor effect: despite revenue change (+75%), EBITDA varies by -20%, reducing margin by 22.7 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 194 k€, i.e. 13.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 46%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 23.3% 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 146.07. 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 2.0x. 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: 346 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 297 days. The gap of 49 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 221 days of revenue, i.e. 900 k€ to permanently finance. Over 2017-2024, WCR increased by +153%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of DT2 SANTE is estimated at 224 933 € (range 109 905€ - 761 864€). With an EBITDA of 282 182€, 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.