SOCIETE DE PARTICIPATION FINANCIERE DE PROFESSION LIBERALE DE PHARMACIEN D'OFFICINE BLETHON : revenue, balance sheet and financial ratios

In 2024, SOCIETE DE PARTICIPATION FINANCIERE DE PROFESSION LIBERALE DE PHARMACIEN D'OFFICINE BLETHON achieves revenue of 237 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +19.0%. Slight decline of -1% vs 2023. After deducting consumption (0 €), gross margin stands at 237 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 18 k€, representing 7.4% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -37%, reducing margin by 4.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 6 k€, i.e. 2.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 66%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 60%. 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 67.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 2251.75. 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 59.8x. 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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 23 days. The company must finance 1 days of gap between collections and payments. Overall, WCR represents 62 days of revenue, i.e. 41 k€ to permanently finance. Over 2016-2024, WCR increased by +1394%, requiring additional financing.

Based on 103 transactions of similar company sales in 2024, the value of SOCIETE DE PARTICIPATION FINANCIERE DE PROFESSION LIBERALE DE PHARMACIEN D'OFFICINE BLETHON is estimated at 81 430 € (range 23 990€ - 155 474€). With an EBITDA of 17 512€, the sector multiple of 5.0x is applied. The price/revenue ratio is 0.38x (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.