PHARMACIE CARLIN : revenue, balance sheet and financial ratios

In 2025, PHARMACIE CARLIN achieves revenue of 1.3 M€. Activity remains stable over the period (CAGR: -1.7%). Slight decline of -3% vs 2024. After deducting consumption (986 k€), gross margin stands at 299 k€, i.e. a rate of 23%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 40 k€, representing 3.1% of revenue. Warning negative scissor effect: despite revenue change (-3%), EBITDA varies by -52%, reducing margin by 3.2 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 30 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 102%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 22.6 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. 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 91.49. 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 16.1x. 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: 6 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 69 days. Excellent situation: suppliers finance 63 days of the operating cycle (retail model). Inventory turnover is 33 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 50 days of revenue, i.e. 180 k€ to permanently finance. Over 2016-2025, WCR increased by +41%, requiring additional financing.

Based on 277 transactions of similar company sales in 2025, the value of PHARMACIE CARLIN is estimated at 483 976 € (range 315 237€ - 644 734€). With an EBITDA of 39 813€, the sector multiple of 7.7x is applied. The price/revenue ratio is 0.61x (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.