THERMAL PRODUCTS FRANCE : revenue, balance sheet and financial ratios

THERMAL PRODUCTS FRANCE is a French company founded 39 years ago, specialized in the sector Fabrication d'autres équipements automobiles. Based in GUISCARD (60640), this company of category ETI shows in 2024 a revenue of 32.0 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 - THERMAL PRODUCTS FRANCE (SIREN 341206183)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 31 990 200 € 42 301 298 € 39 208 183 € 35 884 984 € 35 213 801 € 40 826 832 € 43 060 400 € 50 707 110 € 50 240 050 €
Net income -1 139 730 € -2 970 727 € -1 266 337 € -1 065 309 € 889 942 € 541 415 € 1 507 881 € 15 863 826 € 3 477 635 €
EBITDA -1 695 052 € -539 617 € -64 938 € 905 414 € 2 922 674 € 3 696 360 € 4 077 535 € 7 700 293 € 8 462 195 €
Net margin -3.6% -7.0% -3.2% -3.0% 2.5% 1.3% 3.5% 31.3% 6.9%

Revenue and income statement

In 2024, THERMAL PRODUCTS FRANCE achieves revenue of 32.0 M€. Revenue is declining over the period 2016-2024 (CAGR: -5.5%). Significant drop of -24% vs 2023. After deducting consumption (13.9 M€), gross margin stands at 18.1 M€, i.e. a rate of 57%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -1.7 M€, representing -5.3% of revenue. Warning negative scissor effect: despite revenue change (-24%), EBITDA varies by -214%, reducing margin by 4.0 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -1.1 M€ (-3.6% 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

31 990 200 €

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

18 105 151 €

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

-1 695 052 €

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

-1 112 672 €

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

-1 139 730 €

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

-5.3%

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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 0%. 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 22%. The balance between equity and debt is satisfactory.

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

0.0%

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

22.063%

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

-0.384%

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

0.0

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

28.1%

Solvency indicators evolution
THERMAL PRODUCTS FRANCE

Sector positioning

Debt ratio
0.0 2024
2022
2023
2024
Q1: 0.0
Med: 2.63
Q3: 40.07
Excellent

In 2024, the debt ratio of THERMAL PRODUCTS FRANCE (0.00) 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
22.06% 2024
2022
2023
2024
Q1: 13.9%
Med: 38.23%
Q3: 59.85%
Average -24 pts over 3 years

In 2024, the financial autonomy of THERMAL PRODUCTS FRANCE (22.1%) 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
0.0 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 1.26 years
Excellent

In 2024, the repayment capacity of THERMAL PRODUCTS FRANCE (0.00) 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 69.16. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

69.162

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

-10.472

Liquidity indicators evolution
THERMAL PRODUCTS FRANCE

Sector positioning

Liquidity ratio
69.16 2024
2022
2023
2024
Q1: 113.29
Med: 179.41
Q3: 299.06
Watch -10 pts over 3 years

In 2024, the liquidity ratio of THERMAL PRODUCTS FRANCE (69.16) 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
-10.47x 2024
2022
2023
2024
Q1: -6.16x
Med: 0.26x
Q3: 7.41x
Average

In 2024, the interest coverage of THERMAL PRODUCTS FRANCE (-10.5x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 67 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 85 days. Favorable situation: supplier credit is longer than customer credit by 18 days. Inventory turnover is 44 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 8 days of revenue, i.e. 688 k€ to permanently finance. Notable WCR improvement over the period (-95%), 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

687 789 €

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

67 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

85 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

44 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

8 j

WCR and payment terms evolution
THERMAL PRODUCTS FRANCE

Positioning of THERMAL PRODUCTS FRANCE in its sector

Comparison with sector Fabrication d'autres équipements automobiles

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 23 825 737€ to 49 925 401€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
23825k€ 41035k€ 49925k€
41 035 629 € Range: 23 825 737€ - 49 925 401€
NAF 5 all-time
How is this estimate calculated?

This estimate is based on the analysis of 22 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 d'autres équipements automobiles)

Compare THERMAL PRODUCTS FRANCE with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication d'autres équipements automobiles

Frequently asked questions about THERMAL PRODUCTS FRANCE

What is the revenue of THERMAL PRODUCTS FRANCE ?

The revenue of THERMAL PRODUCTS FRANCE in 2024 is 32.0 M€.

Is THERMAL PRODUCTS FRANCE profitable?

THERMAL PRODUCTS FRANCE recorded a net loss in 2024.

Where is the headquarters of THERMAL PRODUCTS FRANCE ?

The headquarters of THERMAL PRODUCTS FRANCE is located in GUISCARD (60640), in the department Oise.

Where to find the tax return of THERMAL PRODUCTS FRANCE ?

The tax return of THERMAL PRODUCTS FRANCE 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 THERMAL PRODUCTS FRANCE operate?

THERMAL PRODUCTS FRANCE operates in the sector Fabrication d'autres équipements automobiles (NAF code 29.32Z). See the 'Sector positioning' section above to compare the company with its competitors.