POURET MEDICAL : revenue, balance sheet and financial ratios

In 2024, POURET MEDICAL achieves revenue of 11.3 M€. Revenue is growing positively over 9 years (CAGR: +3.2%). Vs 2023: +3%. After deducting consumption (7.0 M€), gross margin stands at 4.2 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 853 k€, representing 7.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 634 k€, i.e. 5.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 6%. 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 63%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.8% 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 282.89. 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 5.9x. 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: 60 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 49 days. The company must finance 11 days of gap between collections and payments. Inventory turnover is 61 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 113 days of revenue, i.e. 3.5 M€ to permanently finance. Over 2016-2024, WCR increased by +24%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of POURET MEDICAL is estimated at 1 124 033 € (range 571 828€ - 3 652 858€). With an EBITDA of 852 891€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (conservative valuation). 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.