PHARMACIE KABTENI : revenue, balance sheet and financial ratios

In 2024, PHARMACIE KABTENI achieves revenue of 3.2 M€. Revenue is growing positively over 8 years (CAGR: +0.9%). Vs 2022, growth of +12% (2.8 M€ -> 3.2 M€). After deducting consumption (2.2 M€), gross margin stands at 932 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 234 k€, representing 7.4% of revenue. Positive scissor effect: EBITDA margin improves by +6.4 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 182 k€, i.e. 5.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 147%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 36%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 9.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 6.7% 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 177.08. 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 11.0x. 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: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 46 days. Excellent situation: suppliers finance 43 days of the operating cycle (retail model). Inventory turnover is 43 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 55 days of revenue, i.e. 484 k€ to permanently finance.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE KABTENI is estimated at 2 195 628 € (range 1 570 719€ - 3 204 523€). With an EBITDA of 233 878€, 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.