2FA : revenue, balance sheet and financial ratios

2FA is a French company founded 18 years ago, specialized in the sector Travaux de menuiserie bois et PVC. Based in MIGNIERES (28630), this company of category PME shows in 2025 a revenue of 5.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - 2FA (SIREN 499121572)
Indicator 2025 2024 2023 2022 2021 2020 2018 2017 2016 2015
Revenue 5 906 421 € 4 606 999 € 6 445 742 € 5 103 876 € 4 266 975 € 2 677 015 € 2 711 234 € N/C N/C 1 794 145 €
Net income 1 048 086 € 802 120 € 1 139 442 € 461 037 € 513 331 € 240 130 € 131 257 € 95 158 € 162 430 € 188 535 €
EBITDA 1 557 025 € 1 145 966 € 1 607 586 € 705 087 € 824 881 € 396 963 € 254 029 € N/C N/C 314 893 €
Net margin 17.7% 17.4% 17.7% 9.0% 12.0% 9.0% 4.8% N/C N/C 10.5%

Revenue and income statement

In 2025, 2FA achieves revenue of 5.9 M€. Over the period 2015-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +12.7%. Vs 2024, growth of +28% (4.6 M€ -> 5.9 M€). After deducting consumption (1.9 M€), gross margin stands at 4.0 M€, i.e. a rate of 68%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.6 M€, representing 26.4% of 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 1.0 M€, i.e. 17.7% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2025) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

5 906 421 €

Gross margin (2025) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

4 017 639 €

EBITDA (2025) ?
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

1 557 025 €

EBIT (2025) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

1 481 920 €

Net income (2025) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

1 048 086 €

EBITDA margin (2025) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

26.3%

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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 82%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 18.9% 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 (2025) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.018%

Financial autonomy (2025) ?
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

82.087%

Cash flow / Revenue (2025) ?
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

18.93%

Repayment capacity (2025) ?
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

0.001

Asset age ratio (2025) ?
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

53.5%

Solvency indicators evolution
2FA

Sector positioning

Debt ratio
0.02 2025
2023
2024
2025
Q1: 6.32
Med: 20.24
Q3: 49.16
Excellent

In 2025, the debt ratio of 2FA (0.02) 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
82.09% 2025
2023
2024
2025
Q1: 30.09%
Med: 46.28%
Q3: 61.0%
Excellent

In 2025, the financial autonomy of 2FA (82.1%) 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 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.6 years
Q3: 1.56 years
Excellent

In 2025, the repayment capacity of 2FA (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 451.97. 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 (2025) ?
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

451.972

Interest coverage (2025) ?
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

0.002

Liquidity indicators evolution
2FA

Sector positioning

Liquidity ratio
451.97 2025
2023
2024
2025
Q1: 161.35
Med: 225.06
Q3: 328.15
Excellent

In 2025, the liquidity ratio of 2FA (451.97) 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
0.0x 2025
2023
2024
2025
Q1: 0.0x
Med: 1.09x
Q3: 4.34x
Average

In 2025, the interest coverage of 2FA (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: 42 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. The company must finance 7 days of gap between collections and payments. Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 40 days of revenue, i.e. 657 k€ to permanently finance. Over 2015-2025, WCR increased by +39%, requiring additional financing.

Operating WCR (2025) ?
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

656 971 €

Customer credit (2025) ?
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

42 j

Supplier credit (2025) ?
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

35 j

Inventory turnover (2025) ?
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

8 j

WCR in days of revenue (2025) ?
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

40 j

WCR and payment terms evolution
2FA

Positioning of 2FA in its sector

Comparison with sector Travaux de menuiserie bois et PVC

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (21 transactions). This range of 1 986 267€ to 6 870 786€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2025
Indicative
1986k€ 4366k€ 6870k€
4 366 823 € Range: 1 986 267€ - 6 870 786€
NAF 5 année 2025

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 21 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 (Travaux de menuiserie bois et PVC)

Compare 2FA with other companies in the same sector:

Frequently asked questions about 2FA

What is the revenue of 2FA ?

The revenue of 2FA in 2025 is 5.9 M€.

Is 2FA profitable?

Yes, 2FA generated a net profit of 1.0 M€ in 2025.

Where is the headquarters of 2FA ?

The headquarters of 2FA is located in MIGNIERES (28630), in the department Eure-et-Loir.

Where to find the tax return of 2FA ?

The tax return of 2FA 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 2FA operate?

2FA operates in the sector Travaux de menuiserie bois et PVC (NAF code 43.32A). See the 'Sector positioning' section above to compare the company with its competitors.