PHARMACIE DES THERMES : revenue, balance sheet and financial ratios

In 2025, PHARMACIE DES THERMES achieves revenue of 1.7 M€. Activity remains stable over the period (CAGR: -1.6%). Vs 2024: +2%. After deducting consumption (1.2 M€), gross margin stands at 501 k€, i.e. a rate of 29%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 57 k€, representing 3.3% of revenue. Warning negative scissor effect: despite revenue change (+2%), EBITDA varies by -47%, reducing margin by 3.0 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 74 k€, i.e. 4.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 92%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 348.35. 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 3.8x. 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: 25 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 44 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 53 days of revenue, i.e. 254 k€ to permanently finance.

Based on 277 transactions of similar company sales in 2025, the value of PHARMACIE DES THERMES is estimated at 769 334 € (range 502 248€ - 1 050 844€). With an EBITDA of 56 784€, 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.