SELAS PHARMACIE DE PORT CAMARGUE : revenue, balance sheet and financial ratios

In 2022, SELAS PHARMACIE DE PORT CAMARGUE achieves revenue of 2.3 M€. Over the period 2016-2022, the company shows strong growth with a CAGR (compound annual growth rate) of +8.2%. Vs 2021: +9%. After deducting consumption (1.5 M€), gross margin stands at 799 k€, i.e. a rate of 35%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 471 k€, representing 20.6% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -13%, reducing margin by 5.1 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 356 k€, i.e. 15.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 33%. Debt remains under control: the company retains capacity to raise new debt if needed. 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 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 15.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 506.29. 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 1.6x. Coverage is limited: any activity downturn would jeopardize interest payments.

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: 48 days. Excellent situation: suppliers finance 43 days of the operating cycle (retail model). Inventory turnover is 24 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 31 days of revenue, i.e. 199 k€ to permanently finance. Over 2016-2022, WCR increased by +61%, requiring additional financing.

Based on 215 transactions of similar company sales in 2022, the value of SELAS PHARMACIE DE PORT CAMARGUE is estimated at 3 591 520 € (range 2 640 367€ - 5 274 009€). With an EBITDA of 470 966€, the sector multiple of 9.3x is applied. The price/revenue ratio is 0.81x (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.