MINDRAY MEDICAL FRANCE SARL : revenue, balance sheet and financial ratios

In 2024, MINDRAY MEDICAL FRANCE SARL achieves revenue of 34.8 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.5%. Vs 2023, growth of +25% (28.0 M€ -> 34.8 M€). After deducting consumption (13.7 M€), gross margin stands at 21.2 M€, i.e. a rate of 61%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 3.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 640 k€, i.e. 1.8% 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 42%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 204.48. 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 1.3x. 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: 72 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 16 days. The gap of 56 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 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 61 days of revenue, i.e. 5.9 M€ to permanently finance. Over 2015-2024, WCR increased by +48%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of MINDRAY MEDICAL FRANCE SARL is estimated at 2 755 745 € (range 1 447 824€ - 8 672 232€). With an EBITDA of 1 207 893€, 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.