PHARMACIE BRUNIAUX : revenue, balance sheet and financial ratios

In 2024, PHARMACIE BRUNIAUX achieves revenue of 1.6 M€. Activity remains stable over the period (CAGR: -0.3%). Slight decline of -0% vs 2023. After deducting consumption (1.1 M€), gross margin stands at 481 k€, i.e. a rate of 30%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 38 k€, representing 2.4% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -67%, reducing margin by 4.8 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 12 k€, i.e. 0.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 75%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 51%. 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 42.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 130.12. 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 19.9x. 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: 11 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 44 days. Excellent situation: suppliers finance 33 days of the operating cycle (retail model). Inventory turnover is 27 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 34 days of revenue, i.e. 154 k€ to permanently finance.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE BRUNIAUX is estimated at 518 582 € (range 397 666€ - 713 263€). With an EBITDA of 38 349€, the sector multiple of 9.2x is applied. The price/revenue ratio is 0.64x (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.