PHARMACIE DE LANDSER : revenue, balance sheet and financial ratios

In 2025, PHARMACIE DE LANDSER achieves revenue of 3.1 M€. Revenue is growing positively over 9 years (CAGR: +4.0%). Slight decline of -1% vs 2024. After deducting consumption (2.3 M€), gross margin stands at 860 k€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 240 k€, representing 7.7% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -27%, reducing margin by 2.7 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 183 k€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 74%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 43%. 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 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.0% 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 165.18. 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 2.3x. Financial charges are adequately covered by operations.

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: 50 days. Excellent situation: suppliers finance 44 days of the operating cycle (retail model). Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 35 days of revenue, i.e. 304 k€ to permanently finance. Over 2017-2025, WCR increased by +49%, requiring additional financing.

Based on 277 transactions of similar company sales in 2025, the value of PHARMACIE DE LANDSER is estimated at 2 077 905 € (range 1 281 612€ - 2 918 437€). With an EBITDA of 240 163€, 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.