ALPES SANITHERM : revenue, balance sheet and financial ratios

ALPES SANITHERM is a French company founded 38 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in LA SAULCE (05110), this company of category ETI shows in 2025 a revenue of 11.1 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-18

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

Financial history - ALPES SANITHERM (SIREN 342344488)
Indicator 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 11 099 732 € 11 374 367 € 12 567 846 € 14 203 316 € 11 941 499 € 11 530 877 € 11 243 704 € 10 773 923 € 12 548 950 € 12 197 758 €
Net income 484 221 € 410 971 € 670 667 € 767 757 € 726 444 € 528 308 € 639 212 € 731 261 € 658 078 € 493 568 €
EBITDA 842 080 € 633 165 € 1 029 415 € 1 322 941 € 1 185 510 € 795 637 € 953 169 € 928 982 € 977 061 € 699 037 €
Net margin 4.4% 3.6% 5.3% 5.4% 6.1% 4.6% 5.7% 6.8% 5.2% 4.0%

Revenue and income statement

In 2025, ALPES SANITHERM achieves revenue of 11.1 M€. Activity remains stable over the period (CAGR: -1.0%). Slight decline of -2% vs 2024. After deducting consumption (3.5 M€), gross margin stands at 7.6 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 842 k€, representing 7.6% of revenue. Positive scissor effect: EBITDA margin improves by +2.0 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 484 k€, i.e. 4.4% 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

11 099 732 €

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

7 598 773 €

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

842 080 €

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

844 044 €

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

484 221 €

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

7.6%

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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 10%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 4.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

0.0%

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

9.665%

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

4.845%

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

0.0

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

13.4%

Solvency indicators evolution
ALPES SANITHERM

Sector positioning

Debt ratio
0.0 2025
2023
2024
2025
Q1: 3.0
Med: 13.86
Q3: 36.67
Excellent

In 2025, the debt ratio of ALPES SANITHERM (0.00) 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
9.66% 2025
2023
2024
2025
Q1: 25.99%
Med: 46.62%
Q3: 62.61%
Watch -6 pts over 3 years

In 2025, the financial autonomy of ALPES SANITHERM (9.7%) 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
0.0 years 2025
2023
2024
2025
Q1: 0.0 years
Med: 0.27 years
Q3: 1.3 years
Excellent

In 2025, the repayment capacity of ALPES SANITHERM (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 149.09. 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 0.1x. 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

149.091

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

0.095

Liquidity indicators evolution
ALPES SANITHERM

Sector positioning

Liquidity ratio
149.09 2025
2023
2024
2025
Q1: 162.18
Med: 222.69
Q3: 314.53
Watch

In 2025, the liquidity ratio of ALPES SANITHERM (149.09) 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
0.1x 2025
2023
2024
2025
Q1: 0.0x
Med: 0.73x
Q3: 3.54x
Average -23 pts over 3 years

In 2025, the interest coverage of ALPES SANITHERM (0.1x) 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: 88 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. The company must finance 13 days of gap between collections and payments. Inventory turnover is 7 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 74 days of revenue, i.e. 2.3 M€ to permanently finance. Notable WCR improvement over the period (-36%), freeing up cash.

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

2 275 112 €

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

88 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

75 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

7 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

74 j

WCR and payment terms evolution
ALPES SANITHERM

Positioning of ALPES SANITHERM in its sector

Comparison with sector Travaux d'installation d'équipements thermiques et de climatisation

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (38 transactions). This range of 1 183 159€ to 2 645 328€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2025
Indicative
1183k€ 2538k€ 2645k€
2 538 188 € Range: 1 183 159€ - 2 645 328€
NAF 5 année 2025

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 38 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 d'installation d'équipements thermiques et de climatisation)

Compare ALPES SANITHERM with other companies in the same sector:

Voir toutes les statistiques du secteur Travaux d'installation d'équipements thermiques et de climatisation

Frequently asked questions about ALPES SANITHERM

What is the revenue of ALPES SANITHERM ?

The revenue of ALPES SANITHERM in 2025 is 11.1 M€.

Is ALPES SANITHERM profitable?

Yes, ALPES SANITHERM generated a net profit of 484 k€ in 2025.

Where is the headquarters of ALPES SANITHERM ?

The headquarters of ALPES SANITHERM is located in LA SAULCE (05110), in the department Hautes-Alpes.

Where to find the tax return of ALPES SANITHERM ?

The tax return of ALPES SANITHERM 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 ALPES SANITHERM operate?

ALPES SANITHERM operates in the sector Travaux d'installation d'équipements thermiques et de climatisation (NAF code 43.22B). See the 'Sector positioning' section above to compare the company with its competitors.