SOCIETE ARMORICAINE DE CANALISATIONS : revenue, balance sheet and financial ratios

SOCIETE ARMORICAINE DE CANALISATIONS is a French company founded 49 years ago, specialized in the sector Construction de réseaux pour fluides. Based in LE RHEU (35650), this company of category PME shows in 2025 a revenue of 38.8 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - SOCIETE ARMORICAINE DE CANALISATIONS (SIREN 309065910)
Indicator 2025 2024 2022 2021 2020 2019 2018 2017
Revenue 38 848 889 € 39 589 203 € 38 612 620 € 34 631 688 € 38 847 075 € 40 728 057 € 35 051 358 € 30 135 054 €
Net income 502 241 € 130 037 € 46 228 € 709 176 € 848 983 € -1 571 422 € -1 740 570 € 667 331 €
EBITDA 594 263 € 404 123 € 953 945 € 917 687 € 1 054 754 € -805 902 € -1 218 148 € -1 462 632 €
Net margin 1.3% 0.3% 0.1% 2.0% 2.2% -3.9% -5.0% 2.2%

Revenue and income statement

In 2025, SOCIETE ARMORICAINE DE CANALISATIONS achieves revenue of 38.8 M€. Revenue is growing positively over 8 years (CAGR: +3.2%). Slight decline of -2% vs 2024. After deducting consumption (10.7 M€), gross margin stands at 28.1 M€, i.e. a rate of 72%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 594 k€, representing 1.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 502 k€, i.e. 1.3% 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

38 848 889 €

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

28 140 924 €

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

594 263 €

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

624 610 €

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

502 241 €

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

1.5%

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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 127%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 9.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.3% 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

126.897%

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

17.479%

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

1.276%

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

9.359

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

26.6%

Solvency indicators evolution
SOCIETE ARMORICAINE DE CANALISATIONS

Sector positioning

Debt ratio
126.9 2025
2022
2024
2025
Q1: 5.46
Med: 28.44
Q3: 57.43
Watch

In 2025, the debt ratio of SOCIETE ARMORICAINE DE CA... (126.90) ranks in the top 25% of the sector. This ratio measures the weight of debt relative to equity. A high ratio may indicate excessive dependence on external financing.

Financial autonomy
17.48% 2025
2022
2024
2025
Q1: 31.37%
Med: 45.09%
Q3: 58.25%
Watch -14 pts over 3 years

In 2025, the financial autonomy of SOCIETE ARMORICAINE DE CA... (17.5%) 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
9.36 years 2025
2022
2024
2025
Q1: 0.21 years
Med: 0.99 years
Q3: 2.21 years
Watch +7 pts over 3 years

In 2025, the repayment capacity of SOCIETE ARMORICAINE DE CA... (9.36) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 138.63. 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 30.4x. Operating income very largely covers interest expenses: high safety margin.

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

138.626

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

30.436

Liquidity indicators evolution
SOCIETE ARMORICAINE DE CANALISATIONS

Sector positioning

Liquidity ratio
138.63 2025
2022
2024
2025
Q1: 164.19
Med: 203.15
Q3: 272.99
Watch

In 2025, the liquidity ratio of SOCIETE ARMORICAINE DE CA... (138.63) 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
30.44x 2025
2022
2024
2025
Q1: 1.07x
Med: 2.81x
Q3: 7.84x
Excellent +12 pts over 3 years

In 2025, the interest coverage of SOCIETE ARMORICAINE DE CA... (30.4x) 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: 101 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 83 days. The company must finance 18 days of gap between collections and payments. Inventory turnover is 9 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 93 days of revenue, i.e. 10.0 M€ to permanently finance.

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

10 047 100 €

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

101 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

83 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

9 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

93 j

WCR and payment terms evolution
SOCIETE ARMORICAINE DE CANALISATIONS

Positioning of SOCIETE ARMORICAINE DE CANALISATIONS in its sector

Comparison with sector Construction de réseaux pour fluides

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (33 transactions). This range of 1 042 095€ to 3 887 656€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2025
Indicative
1042k€ 1315k€ 3887k€
1 315 408 € Range: 1 042 095€ - 3 887 656€
NAF 5 all-time
How is this estimate calculated?

This estimate is based on the analysis of 33 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 (Construction de réseaux pour fluides)

Compare SOCIETE ARMORICAINE DE CANALISATIONS with other companies in the same sector:

Voir toutes les statistiques du secteur Construction de réseaux pour fluides

Frequently asked questions about SOCIETE ARMORICAINE DE CANALISATIONS

What is the revenue of SOCIETE ARMORICAINE DE CANALISATIONS ?

The revenue of SOCIETE ARMORICAINE DE CANALISATIONS in 2025 is 38.8 M€.

Is SOCIETE ARMORICAINE DE CANALISATIONS profitable?

Yes, SOCIETE ARMORICAINE DE CANALISATIONS generated a net profit of 502 k€ in 2025.

Where is the headquarters of SOCIETE ARMORICAINE DE CANALISATIONS ?

The headquarters of SOCIETE ARMORICAINE DE CANALISATIONS is located in LE RHEU (35650), in the department Ille-et-Vilaine.

Where to find the tax return of SOCIETE ARMORICAINE DE CANALISATIONS ?

The tax return of SOCIETE ARMORICAINE DE CANALISATIONS 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 SOCIETE ARMORICAINE DE CANALISATIONS operate?

SOCIETE ARMORICAINE DE CANALISATIONS operates in the sector Construction de réseaux pour fluides (NAF code 42.21Z). See the 'Sector positioning' section above to compare the company with its competitors.