INTERSURGICAL SARL : revenue, balance sheet and financial ratios

In 2024, INTERSURGICAL SARL achieves revenue of 42.2 M€. Revenue is growing positively over 9 years (CAGR: +4.9%). Vs 2023: +8%. After deducting consumption (24.3 M€), gross margin stands at 17.9 M€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 8.0 M€, representing 19.1% of 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 5.8 M€, i.e. 13.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 82%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 14.5% 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 537.49. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 67 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 14 days. The gap of 53 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 87 days of revenue, i.e. 10.2 M€ to permanently finance. Over 2016-2024, WCR increased by +66%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of INTERSURGICAL SARL is estimated at 6 472 779 € (range 3 159 882€ - 21 925 174€). With an EBITDA of 8 042 342€, 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.