THERAMEX FRANCE : revenue, balance sheet and financial ratios

THERAMEX FRANCE is a French company founded 11 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 85.5 M€. 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 - THERAMEX FRANCE (SIREN 810337139)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 85 519 119 € 75 098 451 € 69 756 404 € 62 571 097 € 59 334 801 € 61 522 222 € 15 295 059 € N/C 1 001 999 €
Net income 1 640 454 € -3 709 284 € -3 661 216 € 851 590 € 985 920 € 748 059 € 110 851 € 19 316 € 23 094 €
EBITDA 4 164 434 € 3 035 585 € 2 009 715 € 3 032 251 € 2 496 746 € 2 257 636 € 323 383 € -346 927 € 106 075 €
Net margin 1.9% -4.9% -5.2% 1.4% 1.7% 1.2% 0.7% N/C 2.3%

Revenue and income statement

In 2024, THERAMEX FRANCE achieves revenue of 85.5 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +74.3%. Vs 2023, growth of +14% (75.1 M€ -> 85.5 M€). After deducting consumption (62.4 M€), gross margin stands at 23.1 M€, i.e. a rate of 27%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.2 M€, representing 4.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.6 M€, i.e. 1.9% 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

85 519 119 €

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

23 113 500 €

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

4 164 434 €

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

3 292 486 €

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

1 640 454 €

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

4.9%

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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 1760%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

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

1760.483%

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

3.965%

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

-1.562%

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

-21.981

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

24.4%

Solvency indicators evolution
THERAMEX FRANCE

Sector positioning

Debt ratio
1760.48 2024
2022
2023
2024
Q1: 0.0
Med: 4.27
Q3: 43.96
Watch +53 pts over 3 years

In 2024, the debt ratio of THERAMEX FRANCE (1760.48) 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.

Financial autonomy
3.96% 2024
2022
2023
2024
Q1: 14.64%
Med: 38.36%
Q3: 60.56%
Average

In 2024, the financial autonomy of THERAMEX FRANCE (4.0%) 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
-21.98 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.09 years
Excellent

In 2024, the repayment capacity of THERAMEX FRANCE (-21.98) 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 409.96. 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 3.7x. Financial charges are adequately covered by operations.

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

409.96

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

3.702

Liquidity indicators evolution
THERAMEX FRANCE

Sector positioning

Liquidity ratio
409.96 2024
2022
2023
2024
Q1: 132.74
Med: 202.27
Q3: 325.9
Excellent

In 2024, the liquidity ratio of THERAMEX FRANCE (409.96) 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
3.7x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.41x
Q3: 6.25x
Good +37 pts over 3 years

In 2024, the interest coverage of THERAMEX FRANCE (3.7x) 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: 50 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 7 days. The gap of 43 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 120 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 139 days of revenue, i.e. 33.1 M€ to permanently finance. Over 2016-2024, WCR increased by +4654%, 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

33 136 948 €

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

50 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

7 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

120 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

139 j

WCR and payment terms evolution
THERAMEX FRANCE

Positioning of THERAMEX FRANCE 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 THERAMEX FRANCE is estimated at 7 199 188 € (range 3 758 452€ - 22 869 287€). With an EBITDA of 4 164 434€, 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
3758k€ 7199k€ 22869k€
7 199 188 € Range: 3 758 452€ - 22 869 287€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
4 164 434 € × 0.7x
Estimation 2 931 283 €
1 385 722€ - 10 668 801€
Revenue Multiple 30%
85 519 119 € × 0.21x
Estimation 18 213 383 €
9 876 686€ - 55 168 637€
Net Income Multiple 20%
1 640 454 € × 0.8x
Estimation 1 347 659 €
512 929€ - 4 921 478€

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 THERAMEX FRANCE 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 THERAMEX FRANCE

What is the revenue of THERAMEX FRANCE ?

The revenue of THERAMEX FRANCE in 2024 is 85.5 M€.

Is THERAMEX FRANCE profitable?

Yes, THERAMEX FRANCE generated a net profit of 1.6 M€ in 2024.

Where is the headquarters of THERAMEX FRANCE ?

The headquarters of THERAMEX FRANCE is located in NEUILLY-SUR-SEINE (92200), in the department Hauts-de-Seine.

Where to find the tax return of THERAMEX FRANCE ?

The tax return of THERAMEX FRANCE 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 THERAMEX FRANCE operate?

THERAMEX FRANCE 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.