GRIFOLS FRANCE : revenue, balance sheet and financial ratios

In 2024, GRIFOLS FRANCE achieves revenue of 174.7 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +23.7%. Vs 2023, growth of +110% (83.2 M€ -> 174.7 M€). After deducting consumption (127.5 M€), gross margin stands at 47.2 M€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.1 M€, representing 4.1% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.5 M€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 5%. 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 18%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 115.04. 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. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 64 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 56 days. The company must finance 8 days of gap between collections and payments. Inventory turnover is 12 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 65 days of revenue, i.e. 31.6 M€ to permanently finance. Over 2016-2024, WCR increased by +329%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of GRIFOLS FRANCE is estimated at 14 407 492 € (range 7 519 163€ - 45 629 813€). With an EBITDA of 7 112 390€, 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.