UBIPHARM-MAYOTTE : revenue, balance sheet and financial ratios

In 2024, UBIPHARM-MAYOTTE achieves revenue of 12.3 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +59.6%. Significant drop of -13% vs 2023. After deducting consumption (10.5 M€), gross margin stands at 1.8 M€, i.e. a rate of 14%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 501 k€, representing 4.1% of revenue. Warning negative scissor effect: despite revenue change (-13%), EBITDA varies by -52%, reducing margin by 3.3 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 122 k€, i.e. 1.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 141%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory.

The liquidity ratio (= Current assets / Current liabilities) stands at 249.42. 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 59.3x. 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: 15 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 68 days. Excellent situation: suppliers finance 53 days of the operating cycle (retail model). Inventory turnover is 122 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 144 days of revenue, i.e. 4.9 M€ to permanently finance. Over 2019-2024, WCR increased by +112%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of UBIPHARM-MAYOTTE is estimated at 983 921 € (range 518 060€ - 3 100 445€). With an EBITDA of 501 006€, 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.