CSL BEHRING S.A. : revenue, balance sheet and financial ratios

CSL BEHRING S.A. is a French company founded 34 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in PARIS (75015), this company of category ETI shows in 2025 a revenue of 444.7 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - CSL BEHRING S.A. (SIREN 383939352)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2017
Revenue 444 669 063 € 418 833 513 € 355 193 128 € 279 550 793 € 251 585 328 € 290 095 553 € 251 120 610 € 267 578 364 € 245 030 286 €
Net income 17 483 556 € 17 619 051 € 12 873 430 € 8 632 534 € 6 717 628 € 7 784 979 € 3 877 555 € 6 602 413 € 5 028 452 €
EBITDA 24 178 932 € 25 088 009 € 18 775 275 € 15 371 046 € 12 750 656 € 9 951 981 € 231 368 343 € 14 815 024 € 8 983 028 €
Net margin 3.9% 4.2% 3.6% 3.1% 2.7% 2.7% 1.5% 2.5% 2.1%

Revenue and income statement

In 2025, CSL BEHRING S.A. achieves revenue of 444.7 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +7.7%. Vs 2024: +6%. After deducting consumption (316.2 M€), gross margin stands at 128.5 M€, i.e. a rate of 29%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 24.2 M€, representing 5.4% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 17.5 M€, i.e. 3.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

444 669 063 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

128 488 347 €

EBITDA (2025) ?
Gross Operating Surplus (EBITDA)
Definition
Resources generated by current operations, before depreciation and financial expenses.
Formula
Value added - Personnel expenses - Taxes
Interpretation
Positive = profitable activity

24 178 932 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

24 443 268 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

17 483 556 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

5.4%

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Chart evolution

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Assets

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Liabilities

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Solvency and debt ratios

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 39%. The balance between equity and debt is satisfactory. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.053%

Financial autonomy (2025) ?
Financial autonomy
Definition
Share of equity in the company's total financing.
Formula
(Equity / Total assets) x 100
Interpretation
> 30% : Good autonomy
20-30% : Average
< 20% : Low

38.963%

Cash flow / Revenue (2025) ?
Cash flow / Revenue
Definition
Self-financing capacity relative to revenue.
Formula
(CAF / CA) x 100
Interpretation
The higher the ratio, the more cash the company generates

3.828%

Repayment capacity (2025) ?
Repayment capacity
Definition
Number of years needed to repay debts with cash flow.
Formula
Financial debt / Cash flow
Interpretation
< 3 years : Excellent
3-5 years : Fair
> 5 years : Warning

0.0

Asset age ratio (2025) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

56.4%

Solvency indicators evolution
CSL BEHRING S.A.

Sector positioning

Debt ratio
0.05 2025
2023
2024
2025
Q1: 0.0
Med: 3.67
Q3: 28.55
Good

In 2025, the debt ratio of CSL BEHRING S.A. (0.05) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
38.96% 2025
2023
2024
2025
Q1: 26.28%
Med: 43.48%
Q3: 62.04%
Average -12 pts over 3 years

In 2025, the financial autonomy of CSL BEHRING S.A. (39.0%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
0.0 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.0 years
Q3: 0.67 years
Excellent

In 2025, the repayment capacity of CSL BEHRING S.A. (0.00) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 164.10. 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.

Liquidity ratio (2025) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

164.099

Interest coverage (2025) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.283

Liquidity indicators evolution
CSL BEHRING S.A.

Sector positioning

Liquidity ratio
164.1 2025
2023
2024
2025
Q1: 147.44
Med: 215.05
Q3: 310.05
Average -9 pts over 3 years

In 2025, the liquidity ratio of CSL BEHRING S.A. (164.10) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
0.28x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.36x
Q3: 5.44x
Average -6 pts over 3 years

In 2025, the interest coverage of CSL BEHRING S.A. (0.3x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 73 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 77 days. Favorable situation: supplier credit is longer than customer credit by 4 days. Inventory turnover is 65 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 163 days of revenue, i.e. 201.2 M€ to permanently finance. Over 2017-2025, WCR increased by +124%, requiring additional financing.

Operating WCR (2025) ?
Operating WCR
Definition
Financing requirement generated by the operating cycle (inventory + receivables - trade payables).
Formula
Inventory + Customer receivables - Trade payables
Interpretation
Negative = cash released
Positive = financing needed

201 177 177 €

Customer credit (2025) ?
Customer credit (days)
Definition
Average payment term granted to customers.
Formula
(Customer receivables / Revenue incl. VAT) x 360
Interpretation
< 45j : Good
45-60j : Average
> 60j : Long

73 j

Supplier credit (2025) ?
Supplier credit (days)
Definition
Average payment term obtained from suppliers.
Formula
(Trade payables / Purchases incl. VAT) x 360
Interpretation
The longer the term, the better for cash flow

77 j

Inventory turnover (2025) ?
Inventory turnover (days)
Definition
Average storage duration for goods or materials.
Formula
(Inventory / Cost of goods) x 360
Interpretation
The lower the ratio, the faster the turnover

65 j

WCR in days of revenue (2025) ?
WCR in days of revenue
Definition
Expresses working capital requirement in days of revenue.
Formula
(Operating WCR / Revenue) x 360
Interpretation
The fewer days, the better the working capital management

163 j

WCR and payment terms evolution
CSL BEHRING S.A.

Positioning of CSL BEHRING S.A. in its sector

Comparison with sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques

Valuation estimate

Based on 124 transactions of similar company sales (all years), the value of CSL BEHRING S.A. is estimated at 39 793 136 € (range 20 522 700€ - 127 519 403€). With an EBITDA of 24 178 932€, 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.

Estimated enterprise value 2025
124 transactions
20522k€ 39793k€ 127519k€
39 793 136 € Range: 20 522 700€ - 127 519 403€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
24 178 932 € × 0.7x
Estimation 17 019 191 €
8 045 578€ - 61 943 645€
Revenue Multiple 30%
444 669 063 € × 0.21x
Estimation 94 703 127 €
51 355 262€ - 286 857 330€
Net Income Multiple 20%
17 483 556 € × 0.8x
Estimation 14 363 015 €
5 466 667€ - 52 451 909€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 124 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.

  • EBITDA Multiple: Preferred method for profitable SMEs. EBITDA reflects the ability to generate cash.
  • Revenue Multiple: Used for growing companies or those with low profitability. Reflects commercial potential.
  • Net Income Multiple: Relevant for mature companies with stable results.

This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).

Similar companies (Commerce de gros (commerce interentreprises) de produits pharmaceutiques)

Compare CSL BEHRING S.A. with other companies in the same sector:

Voir toutes les statistiques du secteur Commerce de gros (commerce interentreprises) de produits pharmaceutiques

Frequently asked questions about CSL BEHRING S.A.

What is the revenue of CSL BEHRING S.A. ?

The revenue of CSL BEHRING S.A. in 2025 is 444.7 M€.

Is CSL BEHRING S.A. profitable?

Yes, CSL BEHRING S.A. generated a net profit of 17.5 M€ in 2025.

Where is the headquarters of CSL BEHRING S.A. ?

The headquarters of CSL BEHRING S.A. is located in PARIS (75015), in the department Paris.

Where to find the tax return of CSL BEHRING S.A. ?

The tax return of CSL BEHRING S.A. is available on this page. Click on a year in the 'Data by year' section to view the account details (assets, liabilities, income statement). Data comes from INPI (National Institute of Industrial Property).

In which sector does CSL BEHRING S.A. operate?

CSL BEHRING S.A. operates in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques (NAF code 46.46Z). See the 'Sector positioning' section above to compare the company with its competitors.