HERVE THERMIQUE : revenue, balance sheet and financial ratios

HERVE THERMIQUE is a French company founded 54 years ago, specialized in the sector Travaux d'installation d'équipements thermiques et de climatisation. Based in JOUE-LES-TOURS (37300), this company of category ETI shows in 2024 a revenue of 508.4 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 - HERVE THERMIQUE (SIREN 627220049)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 508 420 709 € 468 424 166 € 408 378 107 € 386 866 932 € 341 392 004 € 364 269 456 € 349 748 855 € 338 256 043 € 338 482 932 €
Net income 21 618 161 € 11 625 955 € 9 901 410 € 9 337 652 € 8 229 649 € 7 632 573 € 7 067 458 € 7 856 616 € 7 314 081 €
EBITDA 38 173 558 € 20 865 752 € 16 705 722 € 15 643 608 € 14 410 684 € 16 290 649 € 6 251 272 € 7 289 597 € 9 507 970 €
Net margin 4.3% 2.5% 2.4% 2.4% 2.4% 2.1% 2.0% 2.3% 2.2%

Revenue and income statement

In 2024, HERVE THERMIQUE achieves revenue of 508.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.2%. Vs 2023: +9%. After deducting consumption (155 k€), gross margin stands at 508.3 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 38.2 M€, representing 7.5% of revenue. Positive scissor effect: EBITDA margin improves by +3.1 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 21.6 M€, i.e. 4.3% 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

508 420 709 €

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

508 265 722 €

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

38 173 558 €

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

29 627 124 €

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

21 618 161 €

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

7.5%

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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 6%. 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 30%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.6% 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

6.023%

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

30.407%

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

5.588%

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

0.22

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

31.6%

Solvency indicators evolution
HERVE THERMIQUE

Sector positioning

Debt ratio
6.02 2024
2022
2023
2024
Q1: 1.0
Med: 13.24
Q3: 41.25
Good

In 2024, the debt ratio of HERVE THERMIQUE (6.02) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
30.41% 2024
2022
2023
2024
Q1: 17.51%
Med: 38.82%
Q3: 57.73%
Average

In 2024, the financial autonomy of HERVE THERMIQUE (30.4%) 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
0.22 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.09 years
Q3: 1.03 years
Average

In 2024, the repayment capacity of HERVE THERMIQUE (0.22) 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 199.65. 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 2.4x. Financial charges are adequately covered by operations.

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

199.646

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

2.409

Liquidity indicators evolution
HERVE THERMIQUE

Sector positioning

Liquidity ratio
199.65 2024
2022
2023
2024
Q1: 154.24
Med: 215.08
Q3: 312.23
Average

In 2024, the liquidity ratio of HERVE THERMIQUE (199.65) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
2.41x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.09x
Q3: 2.3x
Excellent

In 2024, the interest coverage of HERVE THERMIQUE (2.4x) 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: 94 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. The company must finance 19 days of gap between collections and payments. Overall, WCR represents 38 days of revenue, i.e. 53.7 M€ to permanently finance. Notable WCR improvement over the period (-21%), freeing up cash.

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

53 663 806 €

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

94 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

75 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

0 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

38 j

WCR and payment terms evolution
HERVE THERMIQUE

Positioning of HERVE 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 (28 transactions). This range of 25 043 403€ to 102 344 473€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
25043k€ 58733k€ 102344k€
58 733 931 € Range: 25 043 403€ - 102 344 473€
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 HERVE 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 HERVE THERMIQUE

What is the revenue of HERVE THERMIQUE ?

The revenue of HERVE THERMIQUE in 2024 is 508.4 M€.

Is HERVE THERMIQUE profitable?

Yes, HERVE THERMIQUE generated a net profit of 21.6 M€ in 2024.

Where is the headquarters of HERVE THERMIQUE ?

The headquarters of HERVE THERMIQUE is located in JOUE-LES-TOURS (37300), in the department Indre-et-Loire.

Where to find the tax return of HERVE THERMIQUE ?

The tax return of HERVE 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 HERVE THERMIQUE operate?

HERVE 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.