O&M HALYARD FRANCE : revenue, balance sheet and financial ratios

In 2024, O&M HALYARD FRANCE achieves revenue of 6.3 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +27.5%. Significant drop of -13% vs 2023. After deducting consumption (4.6 M€), gross margin stands at 1.7 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 191 k€, representing 3.0% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 173 k€, i.e. 2.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 60%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 50%. 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 4.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 684.86. 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 25.1x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 2 days. The gap of 42 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 43 days of revenue, i.e. 762 k€ to permanently finance. Over 2018-2024, WCR increased by +161%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of O&M HALYARD FRANCE is estimated at 500 121 € (range 261 918€ - 1 573 717€). With an EBITDA of 191 238€, 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.