SMITH ET NEPHEW SAS : revenue, balance sheet and financial ratios

SMITH ET NEPHEW SAS is a French company founded 55 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in NEUILLY-SUR-SEINE (92200), this company of category ETI shows in 2024 a revenue of 131.4 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 - SMITH ET NEPHEW SAS (SIREN 577150840)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 131 431 378 € 124 075 606 € 119 848 395 € 121 173 662 € 114 539 665 € 128 113 294 € 132 963 429 € 133 935 599 € 127 882 143 €
Net income 7 683 646 € 3 920 627 € 1 385 647 € 1 706 850 € 982 782 € 1 113 013 € 1 080 305 € 4 490 474 € -4 458 868 €
EBITDA 7 914 229 € 3 820 128 € 9 794 624 € 4 955 523 € 13 264 230 € 8 462 069 € 11 102 337 € 16 085 761 € 10 834 287 €
Net margin 5.8% 3.2% 1.2% 1.4% 0.9% 0.9% 0.8% 3.4% -3.5%

Revenue and income statement

In 2024, SMITH ET NEPHEW SAS achieves revenue of 131.4 M€. Revenue is growing positively over 9 years (CAGR: +0.3%). Vs 2023: +6%. After deducting consumption (68.2 M€), gross margin stands at 63.2 M€, i.e. a rate of 48%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7.9 M€, representing 6.0% of revenue. Positive scissor effect: EBITDA margin improves by +2.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 7.7 M€, i.e. 5.8% 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

131 431 378 €

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

63 184 573 €

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

7 914 229 €

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

9 918 960 €

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

7 683 646 €

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

6.0%

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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 4%. 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 57%. This high autonomy means the company finances most of its assets through equity, a sign of strength.

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

4.141%

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

57.167%

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

-0.007%

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

-257.546

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

13.1%

Solvency indicators evolution
SMITH ET NEPHEW SAS

Sector positioning

Debt ratio
4.14 2024
2022
2023
2024
Q1: 0.0
Med: 4.27
Q3: 43.96
Good -16 pts over 3 years

In 2024, the debt ratio of SMITH ET NEPHEW SAS (4.14) 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
57.17% 2024
2022
2023
2024
Q1: 14.64%
Med: 38.36%
Q3: 60.56%
Good +11 pts over 3 years

In 2024, the financial autonomy of SMITH ET NEPHEW SAS (57.2%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
-257.55 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.09 years
Excellent -52 pts over 3 years

In 2024, the repayment capacity of SMITH ET NEPHEW SAS (-257.55) 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 262.42. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

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

262.424

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

0.504

Liquidity indicators evolution
SMITH ET NEPHEW SAS

Sector positioning

Liquidity ratio
262.42 2024
2022
2023
2024
Q1: 132.74
Med: 202.27
Q3: 325.9
Good -13 pts over 3 years

In 2024, the liquidity ratio of SMITH ET NEPHEW SAS (262.42) 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.

Interest coverage
0.5x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.41x
Q3: 6.25x
Good -7 pts over 3 years

In 2024, the interest coverage of SMITH ET NEPHEW SAS (0.5x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 72 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. Favorable situation: supplier credit is longer than customer credit by 1 days. Inventory turnover is 51 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 218 days of revenue, i.e. 79.6 M€ to permanently finance.

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

79 585 642 €

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

72 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

73 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

51 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

218 j

WCR and payment terms evolution
SMITH ET NEPHEW SAS

Positioning of SMITH ET NEPHEW 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 SMITH ET NEPHEW SAS is estimated at 12 445 256 € (range 6 350 973€ - 40 184 000€). With an EBITDA of 7 914 229€, 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
6350k€ 12445k€ 40184k€
12 445 256 € Range: 6 350 973€ - 40 184 000€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
7 914 229 € × 0.7x
Estimation 5 570 708 €
2 633 472€ - 20 275 345€
Revenue Multiple 30%
131 431 378 € × 0.21x
Estimation 27 991 519 €
15 179 137€ - 84 786 771€
Net Income Multiple 20%
7 683 646 € × 0.8x
Estimation 6 312 235 €
2 402 482€ - 23 051 484€

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 SMITH ET NEPHEW 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 SMITH ET NEPHEW SAS

What is the revenue of SMITH ET NEPHEW SAS ?

The revenue of SMITH ET NEPHEW SAS in 2024 is 131.4 M€.

Is SMITH ET NEPHEW SAS profitable?

Yes, SMITH ET NEPHEW SAS generated a net profit of 7.7 M€ in 2024.

Where is the headquarters of SMITH ET NEPHEW SAS ?

The headquarters of SMITH ET NEPHEW SAS is located in NEUILLY-SUR-SEINE (92200), in the department Hauts-de-Seine.

Where to find the tax return of SMITH ET NEPHEW SAS ?

The tax return of SMITH ET NEPHEW 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 SMITH ET NEPHEW SAS operate?

SMITH ET NEPHEW 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.