REFRACTORY THERMIC SERVICES : revenue, balance sheet and financial ratios

REFRACTORY THERMIC SERVICES is a French company founded 10 years ago, specialized in the sector Réparation de machines et équipements mécaniques. Based in BOISSEUIL (87220), this company of category PME shows in 2023 a revenue of 2.1 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - REFRACTORY THERMIC SERVICES (SIREN 811579119)
Indicator 2023 2022 2021 2020 2018 2017 2016
Revenue 2 083 670 € 2 041 733 € 1 616 773 € 1 083 679 € N/C 1 592 315 € 1 852 208 €
Net income 120 042 € 96 447 € 126 946 € 48 698 € 145 788 € 145 530 € 28 349 €
EBITDA 167 978 € 138 006 € 211 602 € 100 367 € N/C 218 574 € 75 017 €
Net margin 5.8% 4.7% 7.9% 4.5% N/C 9.1% 1.5%

Revenue and income statement

In 2023, REFRACTORY THERMIC SERVICES achieves revenue of 2.1 M€. Revenue is growing positively over 7 years (CAGR: +1.7%). Vs 2022: +2%. After deducting consumption (737 k€), gross margin stands at 1.3 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 168 k€, 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 120 k€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2023) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

2 083 670 €

Gross margin (2023) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

1 346 176 €

EBITDA (2023) ?
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

167 978 €

EBIT (2023) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

142 763 €

Net income (2023) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

120 042 €

EBITDA margin (2023) ?
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 24%. 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 47%. 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 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.0% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

Debt ratio (2023) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

24.247%

Financial autonomy (2023) ?
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

47.067%

Cash flow / Revenue (2023) ?
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

6.99%

Repayment capacity (2023) ?
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

1.006

Asset age ratio (2023) ?
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

32.7%

Solvency indicators evolution
REFRACTORY THERMIC SERVICES

Sector positioning

Debt ratio
24.25 2023
2021
2022
2023
Q1: 2.93
Med: 19.64
Q3: 60.67
Average -15 pts over 3 years

In 2023, the debt ratio of REFRACTORY THERMIC SERVICES (24.25) 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
47.07% 2023
2021
2022
2023
Q1: 21.66%
Med: 42.7%
Q3: 61.08%
Good +7 pts over 3 years

In 2023, the financial autonomy of REFRACTORY THERMIC SERVICES (47.1%) ranks above the median of the sector. This ratio represents the share of equity in total financing. This comfortable position offers an appreciable safety margin.

Repayment capacity
1.01 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.41 years
Q3: 1.77 years
Average -9 pts over 3 years

In 2023, the repayment capacity of REFRACTORY THERMIC SERVICES (1.01) 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 228.09. 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 0.8x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2023) ?
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

228.088

Interest coverage (2023) ?
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

0.82

Liquidity indicators evolution
REFRACTORY THERMIC SERVICES

Sector positioning

Liquidity ratio
228.09 2023
2021
2022
2023
Q1: 166.89
Med: 236.12
Q3: 336.32
Average -8 pts over 3 years

In 2023, the liquidity ratio of REFRACTORY THERMIC SERVICES (228.09) 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
0.82x 2023
2021
2022
2023
Q1: 0.0x
Med: 0.61x
Q3: 3.09x
Good -12 pts over 3 years

In 2023, the interest coverage of REFRACTORY THERMIC SERVICES (0.8x) 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: 49 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 70 days. Favorable situation: supplier credit is longer than customer credit by 21 days. Inventory turnover is 62 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 117 days of revenue, i.e. 677 k€ to permanently finance. Over 2016-2023, WCR increased by +363%, requiring additional financing.

Operating WCR (2023) ?
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

677 109 €

Customer credit (2023) ?
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

49 j

Supplier credit (2023) ?
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

70 j

Inventory turnover (2023) ?
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

62 j

WCR in days of revenue (2023) ?
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

117 j

WCR and payment terms evolution
REFRACTORY THERMIC SERVICES

Positioning of REFRACTORY THERMIC SERVICES in its sector

Comparison with sector Réparation de machines et équipements mécaniques

Valuation estimate

Based on 104 transactions of similar company sales (all years), the value of REFRACTORY THERMIC SERVICES is estimated at 285 441 € (range 169 670€ - 820 418€). With an EBITDA of 167 978€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.27x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.

Estimated enterprise value 2023
104 transactions
169k€ 285k€ 820k€
285 441 € Range: 169 670€ - 820 418€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
167 978 € × 1.0x
Estimation 172 730 €
119 229€ - 565 077€
Revenue Multiple 30%
2 083 670 € × 0.27x
Estimation 560 307 €
298 780€ - 1 423 045€
Net Income Multiple 20%
120 042 € × 1.3x
Estimation 154 921 €
102 109€ - 554 834€
How is this estimate calculated?

This estimate is based on the analysis of 104 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 (Réparation de machines et équipements mécaniques)

Compare REFRACTORY THERMIC SERVICES with other companies in the same sector:

Voir toutes les statistiques du secteur Réparation de machines et équipements mécaniques

Frequently asked questions about REFRACTORY THERMIC SERVICES

What is the revenue of REFRACTORY THERMIC SERVICES ?

The revenue of REFRACTORY THERMIC SERVICES in 2023 is 2.1 M€.

Is REFRACTORY THERMIC SERVICES profitable?

Yes, REFRACTORY THERMIC SERVICES generated a net profit of 120 k€ in 2023.

Where is the headquarters of REFRACTORY THERMIC SERVICES ?

The headquarters of REFRACTORY THERMIC SERVICES is located in BOISSEUIL (87220), in the department Haute-Vienne.

Where to find the tax return of REFRACTORY THERMIC SERVICES ?

The tax return of REFRACTORY THERMIC SERVICES 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 REFRACTORY THERMIC SERVICES operate?

REFRACTORY THERMIC SERVICES operates in the sector Réparation de machines et équipements mécaniques (NAF code 33.12Z). See the 'Sector positioning' section above to compare the company with its competitors.