ORTHOFIX FRANCE S.A.S. : revenue, balance sheet and financial ratios

In 2024, ORTHOFIX FRANCE S.A.S. achieves revenue of 14.2 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.3%. Vs 2023, growth of +22% (11.6 M€ -> 14.2 M€). After deducting consumption (7.1 M€), gross margin stands at 7.1 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 137 k€, representing 1.0% of revenue. Warning negative scissor effect: despite revenue change (+22%), EBITDA varies by -86%, reducing margin by 7.7 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 496 k€, i.e. 3.5% 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 66%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

The liquidity ratio (= Current assets / Current liabilities) stands at 271.99. 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 24.2x. 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: 63 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 64 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Inventory turnover is 85 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 118 days of revenue, i.e. 4.6 M€ to permanently finance. Over 2016-2024, WCR increased by +36%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of ORTHOFIX FRANCE S.A.S. is estimated at 1 034 545 € (range 544 493€ - 3 213 807€). With an EBITDA of 136 978€, 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.