PHARMACIE DES REMPARTS : revenue, balance sheet and financial ratios

In 2024, PHARMACIE DES REMPARTS achieves revenue of 2.0 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +14.8%. Vs 2023: +7%. After deducting consumption (1.3 M€), gross margin stands at 642 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 196 k€, representing 10.0% of revenue. Positive scissor effect: EBITDA margin improves by +2.6 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 88 k€, i.e. 4.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 73%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 45%. 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 4.5 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 4.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 116.82. 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 3.9x. 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: 12 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 47 days. Excellent situation: suppliers finance 35 days of the operating cycle (retail model). Inventory turnover is 36 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 41 days of revenue, i.e. 222 k€ to permanently finance. Over 2018-2024, WCR increased by +296%, requiring additional financing.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE DES REMPARTS is estimated at 1 527 086 € (range 1 079 273€ - 2 249 160€). With an EBITDA of 196 245€, 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.