STRAUMANN : revenue, balance sheet and financial ratios

In 2024, STRAUMANN achieves revenue of 107.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +15.4%. Vs 2023: +5%. After deducting consumption (68.0 M€), gross margin stands at 39.5 M€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.4 M€, representing 5.1% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.4 M€, i.e. 2.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 90%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 37%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 4.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 329.57. 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 19.3x. 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: 75 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 15 days. The gap of 60 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 21 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 88 days of revenue, i.e. 26.2 M€ to permanently finance. Over 2016-2024, WCR increased by +361%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of STRAUMANN is estimated at 9 175 509 € (range 4 779 500€ - 29 205 601€). With an EBITDA of 5 448 013€, 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.