SPENGLER SAS : revenue, balance sheet and financial ratios

SPENGLER SAS is a French company founded 28 years ago, specialized in the sector Fabrication de matériel médico-chirurgical et dentaire. Based in AIX-EN-PROVENCE (13290), this company of category PME shows in 2024 a revenue of 15.9 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 - SPENGLER SAS (SIREN 418686739)
Indicator 2024 2023 2022 2021 2021 2020 2019 2018 2017 2016
Revenue 15 930 644 € 5 730 465 € 5 708 161 € 8 472 284 € 3 471 813 € 8 236 882 € 3 824 959 € 7 420 753 € 7 574 401 € 8 097 983 €
Net income -161 483 € 76 576 € 78 270 € 771 563 € 358 267 € 851 649 € 113 800 € 425 348 € 59 658 € -861 617 €
EBITDA 272 214 € 508 939 € 337 022 € 1 371 803 € 500 575 € 1 352 982 € 312 176 € 387 220 € 425 525 € -250 590 €
Net margin -1.0% 1.3% 1.4% 9.1% 10.3% 10.3% 3.0% 5.7% 0.8% -10.6%

Revenue and income statement

In 2024, SPENGLER SAS achieves revenue of 15.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.8%. Vs 2023, growth of +178% (5.7 M€ -> 15.9 M€). After deducting consumption (7.0 M€), gross margin stands at 8.9 M€, i.e. a rate of 56%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 272 k€, representing 1.7% of revenue. Warning negative scissor effect: despite revenue change (+178%), EBITDA varies by -47%, reducing margin by 7.2 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -161 k€ (-1.0% of revenue), which will impact equity.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

15 930 644 €

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

8 911 867 €

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

272 214 €

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

93 776 €

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

-161 483 €

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

1.7%

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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 101%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 20.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

101.429%

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

25.711%

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

1.165%

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

20.407

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

32.4%

Solvency indicators evolution
SPENGLER SAS

Sector positioning

Debt ratio
101.43 2024
2022
2023
2024
Q1: 1.92
Med: 18.86
Q3: 55.42
Average

In 2024, the debt ratio of SPENGLER SAS (101.43) 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
25.71% 2024
2022
2023
2024
Q1: 24.8%
Med: 50.27%
Q3: 69.09%
Average -13 pts over 3 years

In 2024, the financial autonomy of SPENGLER SAS (25.7%) 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
20.41 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.3 years
Q3: 1.74 years
Watch

In 2024, the repayment capacity of SPENGLER SAS (20.41) 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 152.36. 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 91.4x. Operating income very largely covers interest expenses: high safety margin.

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

152.362

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

91.43

Liquidity indicators evolution
SPENGLER SAS

Sector positioning

Liquidity ratio
152.36 2024
2022
2023
2024
Q1: 159.64
Med: 253.69
Q3: 429.69
Watch -31 pts over 3 years

In 2024, the liquidity ratio of SPENGLER SAS (152.36) 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
91.43x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.67x
Q3: 4.96x
Excellent

In 2024, the interest coverage of SPENGLER SAS (91.4x) 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: 66 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 90 days. Favorable situation: supplier credit is longer than customer credit by 24 days. Inventory turnover is 101 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 128 days of revenue, i.e. 5.7 M€ to permanently finance. Over 2016-2024, WCR increased by +109%, 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

5 673 062 €

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

90 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

101 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

128 j

WCR and payment terms evolution
SPENGLER SAS

Positioning of SPENGLER SAS in its sector

Comparison with sector Fabrication de matériel médico-chirurgical et dentaire

Valuation estimate

Based on 57 transactions of similar company sales (all years), the value of SPENGLER SAS is estimated at 1 786 934 € (range 714 602€ - 3 633 869€). With an EBITDA of 272 214€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.23x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.

Estimated enterprise value 2024
57 tx
714k€ 1786k€ 3633k€
1 786 934 € Range: 714 602€ - 3 633 869€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
272 214 € × 2.5x
Estimation 691 249 €
135 856€ - 1 278 342€
Revenue Multiple 30%
15 930 644 € × 0.23x
Estimation 3 613 076 €
1 679 180€ - 7 559 749€
How is this estimate calculated?

This estimate is based on the analysis of 57 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 (Fabrication de matériel médico-chirurgical et dentaire)

Compare SPENGLER SAS with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de matériel médico-chirurgical et dentaire

Frequently asked questions about SPENGLER SAS

What is the revenue of SPENGLER SAS ?

The revenue of SPENGLER SAS in 2024 is 15.9 M€.

Is SPENGLER SAS profitable?

SPENGLER SAS recorded a net loss in 2024.

Where is the headquarters of SPENGLER SAS ?

The headquarters of SPENGLER SAS is located in AIX-EN-PROVENCE (13290), in the department Bouches-du-Rhone.

Where to find the tax return of SPENGLER SAS ?

The tax return of SPENGLER SAS 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 SPENGLER SAS operate?

SPENGLER SAS operates in the sector Fabrication de matériel médico-chirurgical et dentaire (NAF code 32.50A). See the 'Sector positioning' section above to compare the company with its competitors.