NOVARTIS PHARMA SAS : revenue, balance sheet and financial ratios

NOVARTIS PHARMA SAS is a French company founded 29 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in RUEIL-MALMAISON (92500), this company of category GE shows in 2024 a revenue of 2.5 Mds€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - NOVARTIS PHARMA SAS (SIREN 410349070)
Indicator 2024 2023 2022 2021 2020 2019 2017 2016
Revenue 2 467 511 891 € 2 408 540 478 € 2 369 819 838 € 2 290 391 954 € 2 161 437 967 € 2 212 759 512 € 2 077 156 405 € 1 963 124 586 €
Net income 178 999 830 € 2 435 663 € 107 204 372 € 46 999 320 € -19 614 721 € 84 713 094 € 28 773 236 € 55 263 934 €
EBITDA 168 573 663 € 160 477 626 € 143 389 835 € 148 039 737 € 146 378 199 € 144 179 010 € 93 616 586 € 100 234 804 €
Net margin 7.3% 0.1% 4.5% 2.1% -0.9% 3.8% 1.4% 2.8%

Revenue and income statement

In 2024, NOVARTIS PHARMA SAS achieves revenue of 2.5 Bn€. Revenue is growing positively over 8 years (CAGR: +2.9%). Vs 2023: +2%. After deducting consumption (1.2 Bn€), gross margin stands at 1.3 Bn€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 168.6 M€, representing 6.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 179.0 M€, i.e. 7.3% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

2 467 511 891 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

1 289 813 661 €

EBITDA (2024) ?
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

168 573 663 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

135 116 736 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

178 999 830 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

6.8%

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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 2%. 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 19%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

1.978%

Financial autonomy (2024) ?
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

19.274%

Cash flow / Revenue (2024) ?
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

2.023%

Repayment capacity (2024) ?
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

0.117

Asset age ratio (2024) ?
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

44.3%

Solvency indicators evolution
NOVARTIS PHARMA SAS

Sector positioning

Debt ratio
1.98 2024
2022
2023
2024
Q1: 0.0
Med: 4.27
Q3: 43.96
Good

In 2024, the debt ratio of NOVARTIS PHARMA SAS (1.98) 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
19.27% 2024
2022
2023
2024
Q1: 14.64%
Med: 38.36%
Q3: 60.56%
Average

In 2024, the financial autonomy of NOVARTIS PHARMA SAS (19.3%) 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
0.12 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.09 years
Average

In 2024, the repayment capacity of NOVARTIS PHARMA SAS (0.12) 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.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 124.82. 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 6.3x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2024) ?
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

124.817

Interest coverage (2024) ?
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

6.319

Liquidity indicators evolution
NOVARTIS PHARMA SAS

Sector positioning

Liquidity ratio
124.82 2024
2022
2023
2024
Q1: 132.74
Med: 202.27
Q3: 325.9
Watch

In 2024, the liquidity ratio of NOVARTIS PHARMA SAS (124.82) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
6.32x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.41x
Q3: 6.25x
Excellent

In 2024, the interest coverage of NOVARTIS PHARMA SAS (6.3x) 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) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 17 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 32 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 41 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 47 days of revenue, i.e. 325.1 M€ to permanently finance. Over 2016-2024, WCR increased by +127%, requiring additional financing.

Operating WCR (2024) ?
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

325 094 692 €

Customer credit (2024) ?
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

17 j

Supplier credit (2024) ?
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

32 j

Inventory turnover (2024) ?
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

41 j

WCR in days of revenue (2024) ?
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

47 j

WCR and payment terms evolution
NOVARTIS PHARMA SAS

Positioning of NOVARTIS PHARMA SAS 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 NOVARTIS PHARMA SAS is estimated at 246 393 539 € (range 124 732 925€ - 800 875 385€). With an EBITDA of 168 573 663€, 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 2024
124 transactions
124732k€ 246393k€ 800875k€
246 393 539 € Range: 124 732 925€ - 800 875 385€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
168 573 663 € × 0.7x
Estimation 118 656 496 €
56 093 154€ - 431 866 354€
Revenue Multiple 30%
2 467 511 891 € × 0.21x
Estimation 525 516 866 €
284 975 343€ - 1 591 799 229€
Net Income Multiple 20%
178 999 830 € × 0.8x
Estimation 147 051 161 €
55 968 729€ - 537 012 199€

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 NOVARTIS PHARMA SAS 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 NOVARTIS PHARMA SAS

What is the revenue of NOVARTIS PHARMA SAS ?

The revenue of NOVARTIS PHARMA SAS in 2024 is 2.5 Mds€.

Is NOVARTIS PHARMA SAS profitable?

Yes, NOVARTIS PHARMA SAS generated a net profit of 179.0 M€ in 2024.

Where is the headquarters of NOVARTIS PHARMA SAS ?

The headquarters of NOVARTIS PHARMA SAS is located in RUEIL-MALMAISON (92500), in the department Hauts-de-Seine.

Where to find the tax return of NOVARTIS PHARMA SAS ?

The tax return of NOVARTIS PHARMA SAS 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 NOVARTIS PHARMA SAS operate?

NOVARTIS PHARMA SAS 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.