PHARMACIE MAILLIART : revenue, balance sheet and financial ratios

In 2024, PHARMACIE MAILLIART achieves revenue of 7.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.8%. Vs 2023, growth of +48% (5.0 M€ -> 7.4 M€). After deducting consumption (5.4 M€), gross margin stands at 2.0 M€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 448 k€, representing 6.1% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 26 k€, i.e. 0.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 163%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 14.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 158.77. 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 35.4x. 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: 6 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 48 days. Excellent situation: suppliers finance 42 days of the operating cycle (retail model). Inventory turnover is 23 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 23 days of revenue, i.e. 473 k€ to permanently finance. Over 2016-2024, WCR increased by +48%, requiring additional financing.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE MAILLIART is estimated at 3 563 514 € (range 2 597 361€ - 5 117 771€). With an EBITDA of 448 378€, 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.