THEA PHARMA : revenue, balance sheet and financial ratios

THEA PHARMA is a French company founded 8 years ago, specialized in the sector Commerce de gros (commerce interentreprises) de produits pharmaceutiques. Based in CLERMONT-FERRAND (63100), this company of category ETI shows in 2024 a revenue of 203.3 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 - THEA PHARMA (SIREN 833730559)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017
Revenue 203 298 999 € 187 287 438 € 175 460 389 € 158 796 761 € 140 678 112 € 147 110 488 € 132 215 824 € N/C
Net income 9 560 398 € 10 376 913 € 11 268 751 € 8 849 699 € 8 590 535 € 8 268 760 € 33 434 270 € 0 €
EBITDA 14 117 166 € 15 262 004 € 16 412 600 € 13 632 561 € 13 595 956 € 14 027 976 € 53 912 977 € N/C
Net margin 4.7% 5.5% 6.4% 5.6% 6.1% 5.6% 25.3% N/C

Revenue and income statement

In 2024, THEA PHARMA achieves revenue of 203.3 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.4%. Vs 2023: +9%. After deducting consumption (146.5 M€), gross margin stands at 56.8 M€, i.e. a rate of 28%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 14.1 M€, representing 6.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 9.6 M€, i.e. 4.7% 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

203 298 999 €

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

56 780 900 €

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

14 117 166 €

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

14 445 972 €

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

9 560 398 €

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

6.9%

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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 1%. 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 60%. This high autonomy means the company finances most of its assets through equity, a sign of strength. 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 4.5% 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

1.082%

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

60.016%

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

4.524%

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

0.065

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

34.7%

Solvency indicators evolution
THEA PHARMA

Sector positioning

Debt ratio
1.08 2024
2022
2023
2024
Q1: 0.0
Med: 4.27
Q3: 43.96
Good

In 2024, the debt ratio of THEA PHARMA (1.08) 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
60.02% 2024
2022
2023
2024
Q1: 14.64%
Med: 38.36%
Q3: 60.56%
Good

In 2024, the financial autonomy of THEA PHARMA (60.0%) 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
0.07 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.09 years
Average

In 2024, the repayment capacity of THEA PHARMA (0.07) 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 268.75. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

268.749

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

0.0

Liquidity indicators evolution
THEA PHARMA

Sector positioning

Liquidity ratio
268.75 2024
2022
2023
2024
Q1: 132.74
Med: 202.27
Q3: 325.9
Good

In 2024, the liquidity ratio of THEA PHARMA (268.75) 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
0.0x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.41x
Q3: 6.25x
Average

In 2024, the interest coverage of THEA PHARMA (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: 59 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 38 days. The company must finance 21 days of gap between collections and payments. Inventory turnover is 54 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 121 days of revenue, i.e. 68.5 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

68 507 697 €

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

59 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

38 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

54 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

121 j

WCR and payment terms evolution
THEA PHARMA

Positioning of THEA PHARMA 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 THEA PHARMA is estimated at 19 528 479 € (range 9 990 373€ - 63 164 289€). With an EBITDA of 14 117 166€, 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
9990k€ 19528k€ 63164k€
19 528 479 € Range: 9 990 373€ - 63 164 289€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
14 117 166 € × 0.7x
Estimation 9 936 863 €
4 697 509€ - 36 166 557€
Revenue Multiple 30%
203 298 999 € × 0.21x
Estimation 43 297 482 €
23 479 199€ - 131 148 786€
Net Income Multiple 20%
9 560 398 € × 0.8x
Estimation 7 854 017 €
2 989 295€ - 28 681 873€

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 THEA PHARMA 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 THEA PHARMA

What is the revenue of THEA PHARMA ?

The revenue of THEA PHARMA in 2024 is 203.3 M€.

Is THEA PHARMA profitable?

Yes, THEA PHARMA generated a net profit of 9.6 M€ in 2024.

Where is the headquarters of THEA PHARMA ?

The headquarters of THEA PHARMA is located in CLERMONT-FERRAND (63100), in the department Puy-de-Dome.

Where to find the tax return of THEA PHARMA ?

The tax return of THEA PHARMA 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 THEA PHARMA operate?

THEA PHARMA 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.