SANTE ASSISTANCE PROMOTION : revenue, balance sheet and financial ratios

In 2024, SANTE ASSISTANCE PROMOTION achieves revenue of 21.7 M€. Revenue is growing positively over 9 years (CAGR: +2.8%). Significant drop of -11% vs 2023. After deducting consumption (11.3 M€), gross margin stands at 10.4 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 5.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 188 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 44%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 53%. 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 3.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.4% 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 336.48. 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 3.4x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 59 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. The gap of 33 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 97 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 125 days of revenue, i.e. 7.5 M€ to permanently finance. Over 2016-2024, WCR increased by +63%, requiring additional financing.

Based on 57 transactions of similar company sales (all years), the value of SANTE ASSISTANCE PROMOTION is estimated at 3 069 503 € (range 1 003 479€ - 6 049 444€). With an EBITDA of 1 164 040€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.23x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.