PHARMACIE DES VESPINS : revenue, balance sheet and financial ratios

In 2024, PHARMACIE DES VESPINS achieves revenue of 4.2 M€. Revenue is growing positively over 9 years (CAGR: +2.7%). Slight decline of -10% vs 2023. After deducting consumption (3.1 M€), gross margin stands at 1.1 M€, i.e. a rate of 26%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 331 k€, representing 8.0% of revenue. Warning negative scissor effect: despite revenue change (-10%), EBITDA varies by -31%, reducing margin by 2.4 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 278 k€, i.e. 6.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 67%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 48%. 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 3.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.5% 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 44.12. 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 5.8x. 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: 4 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 52 days. Excellent situation: suppliers finance 48 days of the operating cycle (retail model). Inventory turnover is 16 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 15 days of revenue, i.e. 169 k€ to permanently finance. Notable WCR improvement over the period (-74%), freeing up cash.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE DES VESPINS is estimated at 3 106 646 € (range 2 213 627€ - 4 548 812€). With an EBITDA of 331 356€, 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.