PHARMACIE SAINTE ANNE : revenue, balance sheet and financial ratios

In 2024, PHARMACIE SAINTE ANNE achieves revenue of 1.7 M€. Activity remains stable over the period (CAGR: -1.2%). Vs 2023: +4%. After deducting consumption (1.2 M€), gross margin stands at 453 k€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 70 k€, representing 4.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 40 k€, i.e. 2.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 270%. 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 22%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 10.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 160.57. 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 34.6x. 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: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 43 days. Excellent situation: suppliers finance 38 days of the operating cycle (retail model). Inventory turnover is 33 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 53 days of revenue, i.e. 248 k€ to permanently finance. Over 2016-2024, WCR increased by +32%, requiring additional financing.

Based on 225 transactions of similar company sales in 2024, the value of PHARMACIE SAINTE ANNE is estimated at 756 944 € (range 559 289€ - 1 075 660€). With an EBITDA of 70 152€, 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.