HENDAYE MEDICAL SERVICE : revenue, balance sheet and financial ratios

In 2025, HENDAYE MEDICAL SERVICE achieves revenue of 1.7 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +9.2%. Vs 2024: +5%. After deducting consumption (1.2 M€), gross margin stands at 463 k€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 100 k€, representing 5.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 79 k€, i.e. 4.6% 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 63%. 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 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 286.23. 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 1.1x. 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: 20 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 25 days. Favorable situation: supplier credit is longer than customer credit by 5 days. Inventory turnover is 45 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 59 days of revenue, i.e. 281 k€ to permanently finance. Over 2016-2025, WCR increased by +52%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of HENDAYE MEDICAL SERVICE is estimated at 157 648 € (range 80 941€ - 507 115€). With an EBITDA of 100 133€, 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.