DELOSTAL ET THIBAULT : revenue, balance sheet and financial ratios

DELOSTAL ET THIBAULT is a French company founded 43 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in COURBEVOIE (92400), this company of category ETI shows in 2024 a revenue of 58.0 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 - DELOSTAL ET THIBAULT (SIREN 324718915)
Indicator 2024 2023 2022 2021 2020 2019 2018 2016 2015
Revenue 57 952 070 € 43 647 738 € 39 808 802 € 34 652 086 € 34 165 903 € 39 688 799 € 30 899 835 € 29 683 147 € 28 556 538 €
Net income 2 387 020 € 1 660 846 € 1 405 434 € 1 320 173 € 924 922 € 981 491 € 1 039 427 € 1 081 640 € 784 147 €
EBITDA 4 690 552 € 3 060 716 € 2 567 469 € 2 699 623 € 1 749 952 € 1 968 738 € 1 743 894 € 2 450 941 € 1 473 402 €
Net margin 4.1% 3.8% 3.5% 3.8% 2.7% 2.5% 3.4% 3.6% 2.7%

Revenue and income statement

In 2024, DELOSTAL ET THIBAULT achieves revenue of 58.0 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.2%. Vs 2023, growth of +33% (43.6 M€ -> 58.0 M€). After deducting consumption (20.1 M€), gross margin stands at 37.9 M€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.7 M€, representing 8.1% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.4 M€, i.e. 4.1% 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

57 952 070 €

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

37 883 553 €

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

4 690 552 €

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

3 460 675 €

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

2 387 020 €

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

8.1%

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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 25%. 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 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

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

25.474%

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

34.921%

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

6.31%

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

0.614

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

55.9%

Solvency indicators evolution
DELOSTAL ET THIBAULT

Sector positioning

Debt ratio
25.47 2024
2022
2023
2024
Q1: 1.0
Med: 13.24
Q3: 41.25
Average -10 pts over 3 years

In 2024, the debt ratio of DELOSTAL ET THIBAULT (25.47) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
34.92% 2024
2022
2023
2024
Q1: 17.51%
Med: 38.82%
Q3: 57.73%
Average

In 2024, the financial autonomy of DELOSTAL ET THIBAULT (34.9%) 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
0.61 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.09 years
Q3: 1.03 years
Average -11 pts over 3 years

In 2024, the repayment capacity of DELOSTAL ET THIBAULT (0.61) 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 145.09. 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 1.1x. Coverage is limited: any activity downturn would jeopardize interest payments.

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

145.093

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

1.071

Liquidity indicators evolution
DELOSTAL ET THIBAULT

Sector positioning

Liquidity ratio
145.09 2024
2022
2023
2024
Q1: 154.24
Med: 215.08
Q3: 312.23
Watch -13 pts over 3 years

In 2024, the liquidity ratio of DELOSTAL ET THIBAULT (145.09) 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
1.07x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.09x
Q3: 2.3x
Good -13 pts over 3 years

In 2024, the interest coverage of DELOSTAL ET THIBAULT (1.1x) 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: 66 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 55 days. The company must finance 11 days of gap between collections and payments. Inventory turnover is 2 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 67 days of revenue, i.e. 10.8 M€ to permanently finance. Over 2015-2024, WCR increased by +48%, 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

10 784 301 €

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

66 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

55 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

2 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

67 j

WCR and payment terms evolution
DELOSTAL ET THIBAULT

Positioning of DELOSTAL ET THIBAULT 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 (28 transactions). This range of 2 893 510€ to 12 088 079€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
2893k€ 6907k€ 12088k€
6 907 865 € Range: 2 893 510€ - 12 088 079€
NAF 5 année 2024

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 28 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 DELOSTAL ET THIBAULT 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 DELOSTAL ET THIBAULT

What is the revenue of DELOSTAL ET THIBAULT ?

The revenue of DELOSTAL ET THIBAULT in 2024 is 58.0 M€.

Is DELOSTAL ET THIBAULT profitable?

Yes, DELOSTAL ET THIBAULT generated a net profit of 2.4 M€ in 2024.

Where is the headquarters of DELOSTAL ET THIBAULT ?

The headquarters of DELOSTAL ET THIBAULT is located in COURBEVOIE (92400), in the department Hauts-de-Seine.

Where to find the tax return of DELOSTAL ET THIBAULT ?

The tax return of DELOSTAL ET THIBAULT 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 DELOSTAL ET THIBAULT operate?

DELOSTAL ET THIBAULT 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.