MEDIC' AIR INTERNATIONAL : revenue, balance sheet and financial ratios

In 2024, MEDIC' AIR INTERNATIONAL achieves revenue of 5.8 M€. Revenue is declining over the period 2016-2024 (CAGR: -9.5%). Vs 2023, growth of +26% (4.7 M€ -> 5.8 M€). After deducting consumption (17 k€), gross margin stands at 5.8 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 502 k€, representing 8.6% of revenue. Positive scissor effect: EBITDA margin improves by +6.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 506 k€, i.e. 8.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 40%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 290.65. 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 4.2x. 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: 86 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 67 days. The company must finance 19 days of gap between collections and payments. Inventory turnover is 4 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 77 days of revenue, i.e. 1.2 M€ to permanently finance. Notable WCR improvement over the period (-54%), freeing up cash.

Based on 173 transactions of similar company sales (all years), the value of MEDIC' AIR INTERNATIONAL is estimated at 1 892 387 € (range 643 346€ - 4 154 938€). With an EBITDA of 501 756€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.