E.THERM (EQUIPEMENT THERMIQUE) : revenue, balance sheet and financial ratios

E.THERM (EQUIPEMENT THERMIQUE) is a French company founded 29 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in LANSARGUES (34130), this company of category PME shows in 2022 a revenue of 1.1 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 - E.THERM (EQUIPEMENT THERMIQUE) (SIREN 408367902)
Indicator 2022 2021 2017 2016 2015 2014
Revenue 1 140 626 € N/C 2 306 448 € N/C 1 873 801 € 2 225 421 €
Net income -164 € 28 705 € -297 173 € 29 867 € 15 238 € 8 583 €
EBITDA 7 312 € N/C -272 964 € N/C 51 509 € 32 039 €
Net margin -0.0% N/C -12.9% N/C 0.8% 0.4%

Revenue and income statement

In 2022, E.THERM (EQUIPEMENT THERMIQUE) achieves revenue of 1.1 M€. Revenue is declining over the period 2014-2022 (CAGR: -8.0%). After deducting consumption (373 k€), gross margin stands at 767 k€, i.e. a rate of 67%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7 k€, representing 0.6% of revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -164 € (-0.0% of revenue), which will impact equity.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 140 626 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

767 376 €

EBITDA (2022) ?
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

7 312 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

20 051 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-164 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

0.6%

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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 -59%. 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 -39%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

-58.816%

Financial autonomy (2022) ?
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

-39.251%

Cash flow / Revenue (2022) ?
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

-1.192%

Repayment capacity (2022) ?
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

-13.532

Asset age ratio (2022) ?
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

19.1%

Solvency indicators evolution
E.THERM (EQUIPEMENT THERMIQUE)

Sector positioning

Debt ratio
-58.82 2022
2017
2021
2022
Q1: 2.37
Med: 20.75
Q3: 64.42
Excellent

In 2022, the debt ratio of E.THERM (EQUIPEMENT THERM... (-58.82) 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
-39.25% 2022
2017
2021
2022
Q1: 14.99%
Med: 33.3%
Q3: 51.91%
Average

In 2022, the financial autonomy of E.THERM (EQUIPEMENT THERM... (-39.2%) 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
-13.53 years 2022
2017
2022
Q1: 0.0 years
Med: 0.29 years
Q3: 1.7 years
Excellent

In 2022, the repayment capacity of E.THERM (EQUIPEMENT THERM... (-13.53) 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 83.81. 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 24.4x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2022) ?
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

83.813

Interest coverage (2022) ?
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

24.439

Liquidity indicators evolution
E.THERM (EQUIPEMENT THERMIQUE)

Sector positioning

Liquidity ratio
83.81 2022
2017
2021
2022
Q1: 151.74
Med: 201.88
Q3: 289.23
Watch +8 pts over 3 years

In 2022, the liquidity ratio of E.THERM (EQUIPEMENT THERM... (83.81) 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
24.44x 2022
2017
2022
Q1: 0.0x
Med: 0.31x
Q3: 2.21x
Excellent +50 pts over 2 years

In 2022, the interest coverage of E.THERM (EQUIPEMENT THERM... (24.4x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 158 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 106 days. The gap of 52 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 16 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-17 days): operations structurally generate cash. Notable WCR improvement over the period (-113%), freeing up cash.

Operating WCR (2022) ?
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

-54 351 €

Customer credit (2022) ?
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

158 j

Supplier credit (2022) ?
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

106 j

Inventory turnover (2022) ?
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

16 j

WCR in days of revenue (2022) ?
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

-17 j

WCR and payment terms evolution
E.THERM (EQUIPEMENT THERMIQUE)

Positioning of E.THERM (EQUIPEMENT THERMIQUE) 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 (47 transactions). This range of 81 280€ to 151 027€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2022
Indicative
81k€ 109k€ 151k€
109 031 € Range: 81 280€ - 151 027€
NAF 5 année 2022

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 47 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 E.THERM (EQUIPEMENT THERMIQUE) 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 E.THERM (EQUIPEMENT THERMIQUE)

What is the revenue of E.THERM (EQUIPEMENT THERMIQUE) ?

The revenue of E.THERM (EQUIPEMENT THERMIQUE) in 2022 is 1.1 M€.

Is E.THERM (EQUIPEMENT THERMIQUE) profitable?

E.THERM (EQUIPEMENT THERMIQUE) recorded a net loss in 2022.

Where is the headquarters of E.THERM (EQUIPEMENT THERMIQUE) ?

The headquarters of E.THERM (EQUIPEMENT THERMIQUE) is located in LANSARGUES (34130), in the department Herault.

Where to find the tax return of E.THERM (EQUIPEMENT THERMIQUE) ?

The tax return of E.THERM (EQUIPEMENT THERMIQUE) 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 E.THERM (EQUIPEMENT THERMIQUE) operate?

E.THERM (EQUIPEMENT THERMIQUE) 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.