PHARMACIE BORDARIES SOCIETE EN LIQUIDATION : revenue, balance sheet and financial ratios

In 2019, PHARMACIE BORDARIES SOCIETE EN LIQUIDATION achieves revenue of 1.3 M€. Revenue is growing positively over 4 years (CAGR: +0.8%). Vs 2018: +6%. After deducting consumption (955 k€), gross margin stands at 385 k€, i.e. a rate of 29%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 34 k€, representing 2.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.1 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 37 k€, i.e. 2.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 85%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 96.70. 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 7.3x. 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: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. Excellent situation: suppliers finance 46 days of the operating cycle (retail model). Inventory turnover is 39 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 37 days of revenue, i.e. 137 k€ to permanently finance.

Based on 205 transactions of similar company sales in 2019, the value of PHARMACIE BORDARIES SOCIETE EN LIQUIDATION is estimated at 529 175 € (range 369 649€ - 718 467€). With an EBITDA of 34 239€, the sector multiple of 9.2x is applied. The price/revenue ratio is 0.70x (in line with sector norms). 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.