PHARMACIE CACHAT : revenue, balance sheet and financial ratios

In 2024, PHARMACIE CACHAT achieves revenue of 1.1 M€. Activity remains stable over the period (CAGR: -2.0%). Vs 2023, growth of +12% (977 k€ -> 1.1 M€). After deducting consumption (740 k€), gross margin stands at 358 k€, i.e. a rate of 33%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 75 k€, representing 6.8% of revenue. Warning negative scissor effect: despite revenue change (+12%), EBITDA varies by -29%, reducing margin by 4.0 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 26 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 93%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 47%. 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 16.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 5.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 104.72. 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 8.8x. 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: 12 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 67 days. Excellent situation: suppliers finance 55 days of the operating cycle (retail model). Inventory turnover is 57 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 61 days of revenue, i.e. 186 k€ to permanently finance.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE CACHAT is estimated at 627 491 € (range 452 629€ - 909 259€). With an EBITDA of 74 569€, 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.