SIREN : 381579580
FSE is a French company founded 35 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in PARIS (75012), this company of category PME shows in 2024 a revenue of 12.6 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
| Indicator | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12 609 868 € | 19 512 325 € | 17 623 127 € | 14 918 480 € | 3 323 624 € | 4 872 431 € | 3 638 658 € | 5 189 510 € |
| Net income | 249 661 € | 392 631 € | 534 216 € | 315 937 € | 63 008 € | 125 072 € | 180 017 € | 112 222 € |
| EBITDA | 604 086 € | 892 680 € | 633 884 € | 485 561 € | -44 035 € | 159 481 € | 128 860 € | 190 463 € |
| Net margin | 2.0% | 2.0% | 3.0% | 2.1% | 1.9% | 2.6% | 4.9% | 2.2% |
In 2024, FSE achieves revenue of 12.6 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +11.7%. Significant drop of -35% vs 2023. After deducting consumption (7.3 M€), gross margin stands at 5.3 M€, i.e. a rate of 42%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 604 k€, representing 4.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 250 k€, i.e. 2.0% of revenue. This profit can be retained or distributed to shareholders.
12 609 868 €
5 282 510 €
604 086 €
591 998 €
249 661 €
4.8%
The debt ratio (= Financial debt / Equity x 100) stands at 102%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 27%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.
101.587%
26.684%
2.066%
7.659
36.9%
In 2024, the debt ratio of FSE (101.59) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.
In 2024, the financial autonomy of FSE (26.7%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2024, the repayment capacity of FSE (7.66) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.
The liquidity ratio (= Current assets / Current liabilities) stands at 224.92. 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 45.2x. Operating income very largely covers interest expenses: high safety margin.
224.923
45.217
In 2024, the liquidity ratio of FSE (224.92) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.
In 2024, the interest coverage of FSE (45.2x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 114 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 88 days. The company must finance 26 days of gap between collections and payments. Inventory turnover is 11 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 159 days of revenue, i.e. 5.6 M€ to permanently finance. Over 2016-2024, WCR increased by +388%, requiring additional financing.
5 585 415 €
114 j
88 j
11 j
159 j
Based on 124 transactions of similar company sales (all years), the value of FSE is estimated at 1 059 297 € (range 553 015€ - 3 363 998€). With an EBITDA of 604 086€, 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.
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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.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare FSE with other companies in the same sector:
The revenue of FSE in 2024 is 12.6 M€.
Yes, FSE generated a net profit of 250 k€ in 2024.
The headquarters of FSE is located in PARIS (75012), in the department Paris.
The tax return of FSE 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).
FSE 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.