ZOETIS FRANCE : revenue, balance sheet and financial ratios

In 2024, ZOETIS FRANCE achieves revenue of 152.0 M€. Revenue is growing positively over 9 years (CAGR: +1.2%). Vs 2023: +9%. After deducting consumption (101.3 M€), gross margin stands at 50.7 M€, i.e. a rate of 33%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.0 M€, representing 4.0% of revenue. Warning negative scissor effect: despite revenue change (+9%), EBITDA varies by -41%, 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 6.0 M€, i.e. 3.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. 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. Cash flow represents 3.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 156.51. 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 0.3x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 44 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 83 days. Excellent situation: suppliers finance 39 days of the operating cycle (retail model). Inventory turnover is 7 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 150 days of revenue, i.e. 63.5 M€ to permanently finance.

Based on 124 transactions of similar company sales (all years), the value of ZOETIS FRANCE is estimated at 12 816 901 € (range 6 643 833€ - 40 730 262€). With an EBITDA of 6 027 088€, 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.