PHARMACIE PANONAISE : revenue, balance sheet and financial ratios

In 2024, PHARMACIE PANONAISE achieves revenue of 2.5 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.2%. Vs 2023: +4%. After deducting consumption (1.8 M€), gross margin stands at 750 k€, i.e. a rate of 30%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 219 k€, representing 8.7% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 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 189 k€, i.e. 7.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 69%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 8.2% 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 330.53. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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: 35 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Inventory turnover is 42 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 41 days of revenue, i.e. 287 k€ to permanently finance. Over 2015-2024, WCR increased by +67%, requiring additional financing.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE PANONAISE is estimated at 2 023 296 € (range 1 435 549€ - 2 972 604€). With an EBITDA of 219 333€, 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.