PHYSIORAMA : revenue, balance sheet and financial ratios

PHYSIORAMA is a French company founded 25 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in PACE (35740), this company of category PME shows in 2022 a revenue of 301 k€. 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 - PHYSIORAMA (SIREN 431826635)
Indicator 2022 2021 2020 2019 2018 2017 2016
Revenue 301 130 € 340 028 € 288 570 € 441 359 € 426 224 € 390 769 € 376 905 €
Net income 130 003 € 152 763 € 131 253 € 217 688 € 191 648 € 162 464 € 143 152 €
EBITDA 177 230 € 210 839 € 180 794 € 304 898 € 275 122 € 236 394 € 211 649 €
Net margin 43.2% 44.9% 45.5% 49.3% 45.0% 41.6% 38.0%

Revenue and income statement

In 2022, PHYSIORAMA achieves revenue of 301 k€. Activity remains stable over the period (CAGR: -3.7%). Significant drop of -11% vs 2021. After deducting consumption (9 k€), gross margin stands at 292 k€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 177 k€, representing 58.9% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -16%, reducing margin by 3.2 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 130 k€, i.e. 43.2% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

301 130 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

292 133 €

EBITDA (2022) ?
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

177 230 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

170 984 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

130 003 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

58.9%

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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 78%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 45.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.013%

Financial autonomy (2022) ?
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

78.382%

Cash flow / Revenue (2022) ?
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

45.221%

Repayment capacity (2022) ?
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 (2022) ?
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

9.6%

Solvency indicators evolution
PHYSIORAMA

Sector positioning

Debt ratio
0.01 2022
2020
2021
2022
Q1: 0.0
Med: 6.23
Q3: 53.97
Good

In 2022, the debt ratio of PHYSIORAMA (0.01) 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
78.38% 2022
2020
2021
2022
Q1: 15.33%
Med: 37.18%
Q3: 59.34%
Excellent

In 2022, the financial autonomy of PHYSIORAMA (78.4%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.

Repayment capacity
0.0 years 2022
2020
2021
2022
Q1: 0.0 years
Med: 0.01 years
Q3: 1.6 years
Excellent

In 2022, the repayment capacity of PHYSIORAMA (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 357.13. 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 0.0x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2022) ?
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

357.128

Interest coverage (2022) ?
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

0.042

Liquidity indicators evolution
PHYSIORAMA

Sector positioning

Liquidity ratio
357.13 2022
2020
2021
2022
Q1: 136.77
Med: 203.41
Q3: 332.18
Excellent

In 2022, the liquidity ratio of PHYSIORAMA (357.13) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
0.04x 2022
2020
2021
2022
Q1: 0.0x
Med: 0.34x
Q3: 4.26x
Average

In 2022, the interest coverage of PHYSIORAMA (0.0x) 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: 15 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 83 days. Excellent situation: suppliers finance 68 days of the operating cycle (retail model). Overall, WCR represents 28 days of revenue, i.e. 23 k€ to permanently finance. Over 2016-2022, WCR increased by +1834%, requiring additional financing.

Operating WCR (2022) ?
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

23 335 €

Customer credit (2022) ?
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

15 j

Supplier credit (2022) ?
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

83 j

Inventory turnover (2022) ?
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

0 j

WCR in days of revenue (2022) ?
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

28 j

WCR and payment terms evolution
PHYSIORAMA

Positioning of PHYSIORAMA 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 PHYSIORAMA is estimated at 102 974 € (range 48 049€ - 363 303€). With an EBITDA of 177 230€, 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 2022
124 transactions
48k€ 102k€ 363k€
102 974 € Range: 48 049€ - 363 303€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
177 230 € × 0.7x
Estimation 124 750 €
58 974€ - 454 043€
Revenue Multiple 30%
301 130 € × 0.21x
Estimation 64 133 €
34 778€ - 194 260€
Net Income Multiple 20%
130 003 € × 0.8x
Estimation 106 799 €
40 649€ - 390 018€

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 PHYSIORAMA 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 PHYSIORAMA

What is the revenue of PHYSIORAMA ?

The revenue of PHYSIORAMA in 2022 is 301 k€.

Is PHYSIORAMA profitable?

Yes, PHYSIORAMA generated a net profit of 130 k€ in 2022.

Where is the headquarters of PHYSIORAMA ?

The headquarters of PHYSIORAMA is located in PACE (35740), in the department Ille-et-Vilaine.

Where to find the tax return of PHYSIORAMA ?

The tax return of PHYSIORAMA 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 PHYSIORAMA operate?

PHYSIORAMA 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.