VENCOREX FRANCE : revenue, balance sheet and financial ratios

VENCOREX FRANCE is a French company founded 23 years ago, specialized in the sector Fabrication d'autres produits chimiques organiques de base. Based in SAINT-PRIEST (69800), this company of category ETI shows in 2023 a revenue of 270.7 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 - VENCOREX FRANCE (SIREN 444187884)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 270 677 646 € 461 983 433 € 322 415 231 € 246 426 899 € 317 505 769 € 355 324 071 € 319 123 183 € 240 775 842 €
Net income -48 215 249 € -1 737 863 € -18 937 218 € -24 716 350 € 2 228 268 € -9 337 796 € -22 598 211 € -45 205 987 €
EBITDA -23 979 377 € 9 307 658 € 1 281 147 € -1 778 027 € 17 233 103 € 16 973 183 € -4 840 265 € -50 049 035 €
Net margin -17.8% -0.4% -5.9% -10.0% 0.7% -2.6% -7.1% -18.8%

Revenue and income statement

In 2023, VENCOREX FRANCE achieves revenue of 270.7 M€. Revenue is growing positively over 8 years (CAGR: +1.7%). Significant drop of -41% vs 2022. After deducting consumption (96.6 M€), gross margin stands at 174.0 M€, i.e. a rate of 64%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -24.0 M€, representing -8.9% of revenue. Warning negative scissor effect: despite revenue change (-41%), EBITDA varies by -358%, reducing margin by 10.9 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -48.2 M€ (-17.8% of revenue), which will impact equity.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

270 677 646 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

174 048 428 €

EBITDA (2023) ?
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

-23 979 377 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

-44 603 174 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-48 215 249 €

EBITDA margin (2023) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

-8.8%

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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 -192%. 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 -15%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-191.911%

Financial autonomy (2023) ?
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

-14.629%

Cash flow / Revenue (2023) ?
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

-13.34%

Repayment capacity (2023) ?
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

-2.176

Asset age ratio (2023) ?
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

41.8%

Solvency indicators evolution
VENCOREX FRANCE

Sector positioning

Debt ratio
-191.91 2023
2021
2022
2023
Q1: 0.11
Med: 18.47
Q3: 54.04
Excellent -52 pts over 3 years

In 2023, the debt ratio of VENCOREX FRANCE (-191.91) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-14.63% 2023
2021
2022
2023
Q1: 21.7%
Med: 49.79%
Q3: 66.31%
Watch

In 2023, the financial autonomy of VENCOREX FRANCE (-14.6%) ranks in the bottom 25% of the sector. This ratio represents the share of equity in total financing. Low autonomy may limit investment capacity and increase vulnerability.

Repayment capacity
-2.18 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.36 years
Q3: 2.53 years
Excellent +6 pts over 3 years

In 2023, the repayment capacity of VENCOREX FRANCE (-2.18) 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 65.97. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2023) ?
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

65.972

Interest coverage (2023) ?
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

-44.973

Liquidity indicators evolution
VENCOREX FRANCE

Sector positioning

Liquidity ratio
65.97 2023
2021
2022
2023
Q1: 131.84
Med: 239.03
Q3: 452.6
Watch

In 2023, the liquidity ratio of VENCOREX FRANCE (65.97) 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
-44.97x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.68x
Q3: 8.21x
Watch -53 pts over 3 years

In 2023, the interest coverage of VENCOREX FRANCE (-45.0x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.

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: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 73 days. Favorable situation: supplier credit is longer than customer credit by 12 days. Inventory turnover is 69 days (= Average inventory / Cost of goods x 360). WCR is negative (-31 days): operations structurally generate cash. Over 2016-2023, WCR increased by +41%, requiring additional financing.

Operating WCR (2023) ?
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

-23 565 196 €

Customer credit (2023) ?
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

61 j

Supplier credit (2023) ?
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 (2023) ?
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

69 j

WCR in days of revenue (2023) ?
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

-31 j

WCR and payment terms evolution
VENCOREX FRANCE

Positioning of VENCOREX FRANCE in its sector

Comparison with sector Fabrication d'autres produits chimiques organiques de base

Valuation estimate

Based on 74 transactions of similar company sales (all years), the value of VENCOREX FRANCE is estimated at 29 732 381 € (range 19 402 908€ - 67 645 624€). The price/revenue ratio is 0.11x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2023
74 tx
19402k€ 29732k€ 67645k€
29 732 381 € Range: 19 402 908€ - 67 645 624€
Section all-time Aggregated at NAF section level

Valuation method used

Revenue Multiple
270 677 646 € × 0.11x = 29 732 381 €
Range: 19 402 908€ - 67 645 625€

Only this financial indicator is available for this company.

How is this estimate calculated?

This estimate is based on the analysis of 74 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 (Fabrication d'autres produits chimiques organiques de base)

Compare VENCOREX FRANCE with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication d'autres produits chimiques organiques de base

Frequently asked questions about VENCOREX FRANCE

What is the revenue of VENCOREX FRANCE ?

The revenue of VENCOREX FRANCE in 2023 is 270.7 M€.

Is VENCOREX FRANCE profitable?

VENCOREX FRANCE recorded a net loss in 2023.

Where is the headquarters of VENCOREX FRANCE ?

The headquarters of VENCOREX FRANCE is located in SAINT-PRIEST (69800), in the department Rhone.

Where to find the tax return of VENCOREX FRANCE ?

The tax return of VENCOREX 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 VENCOREX FRANCE operate?

VENCOREX FRANCE operates in the sector Fabrication d'autres produits chimiques organiques de base (NAF code 20.14Z). See the 'Sector positioning' section above to compare the company with its competitors.