THERMES DE SANTENAY : revenue, balance sheet and financial ratios

THERMES DE SANTENAY is a French company founded 8 years ago, specialized in the sector Location de terrains et d'autres biens immobiliers. Based in AIX-LES-BAINS (73100), this company of category ETI shows in 2024 a revenue of 319 k€. 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 - THERMES DE SANTENAY (SIREN 837702208)
Indicator 2024 2023 2022 2021 2020 2019 2018
Revenue 318 788 € 239 895 € 150 000 € 75 000 € N/C N/C N/C
Net income -77 419 € 35 252 € -212 097 € -278 154 € -67 457 € -44 886 € -75 152 €
EBITDA 285 207 € 197 239 € 110 925 € 52 509 € -22 895 € -20 194 € -67 139 €
Net margin -24.3% 14.7% -141.4% -370.9% N/C N/C N/C

Revenue and income statement

In 2024, THERMES DE SANTENAY achieves revenue of 319 k€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +62.0%. Vs 2023, growth of +33% (240 k€ -> 319 k€). After deducting consumption (0 €), gross margin stands at 319 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 285 k€, representing 89.5% of revenue. Positive scissor effect: EBITDA margin improves by +7.2 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Net income is negative at -77 k€ (-24.3% 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

318 788 €

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

318 788 €

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

285 207 €

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

-205 523 €

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

-77 419 €

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

89.5%

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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 115%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 46%. 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 21.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 55.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

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

114.614%

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

46.375%

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

55.163%

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

21.159

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

76.5%

Solvency indicators evolution
THERMES DE SANTENAY

Sector positioning

Debt ratio
114.61 2024
2022
2023
2024
Q1: -21.14
Med: 5.94
Q3: 146.94
Average +6 pts over 3 years

In 2024, the debt ratio of THERMES DE SANTENAY (114.61) 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
46.38% 2024
2022
2023
2024
Q1: 0.03%
Med: 27.48%
Q3: 73.8%
Good

In 2024, the financial autonomy of THERMES DE SANTENAY (46.4%) 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
21.16 years 2024
2022
2023
2024
Q1: -0.02 years
Med: 0.66 years
Q3: 10.6 years
Average

In 2024, the repayment capacity of THERMES DE SANTENAY (21.16) 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 2142.54. 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 38.3x. 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

2142.536

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

38.341

Liquidity indicators evolution
THERMES DE SANTENAY

Sector positioning

Liquidity ratio
2142.54 2024
2022
2023
2024
Q1: 83.3
Med: 307.78
Q3: 1321.87
Excellent +28 pts over 3 years

In 2024, the liquidity ratio of THERMES DE SANTENAY (2142.54) ranks in the top 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio above 1 ensures comfortable coverage of short-term maturities.

Interest coverage
38.34x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 20.03x
Excellent

In 2024, the interest coverage of THERMES DE SANTENAY (38.3x) 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: 61 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 193 days. Excellent situation: suppliers finance 132 days of the operating cycle (retail model). Overall, WCR represents 102 days of revenue, i.e. 90 k€ to permanently finance.

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

90 131 €

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

61 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

193 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

102 j

WCR and payment terms evolution
THERMES DE SANTENAY

Positioning of THERMES DE SANTENAY in its sector

Comparison with sector Location de terrains et d'autres biens immobiliers

Valuation estimate

Based on 169 transactions of similar company sales in 2024, the value of THERMES DE SANTENAY is estimated at 1 094 622 € (range 301 076€ - 1 961 468€). With an EBITDA of 285 207€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). 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 2024
169 transactions
301k€ 1094k€ 1961k€
1 094 622 € Range: 301 076€ - 1 961 468€
NAF 5 année 2024

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
285 207 € × 5.6x
Estimation 1 597 110 €
422 765€ - 2 850 645€
Revenue Multiple 30%
318 788 € × 0.81x
Estimation 257 143 €
98 263€ - 479 509€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 169 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 (Location de terrains et d'autres biens immobiliers)

Compare THERMES DE SANTENAY with other companies in the same sector:

Voir toutes les statistiques du secteur Location de terrains et d'autres biens immobiliers

Frequently asked questions about THERMES DE SANTENAY

What is the revenue of THERMES DE SANTENAY ?

The revenue of THERMES DE SANTENAY in 2024 is 319 k€.

Is THERMES DE SANTENAY profitable?

THERMES DE SANTENAY recorded a net loss in 2024.

Where is the headquarters of THERMES DE SANTENAY ?

The headquarters of THERMES DE SANTENAY is located in AIX-LES-BAINS (73100), in the department Savoie.

Where to find the tax return of THERMES DE SANTENAY ?

The tax return of THERMES DE SANTENAY 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 THERMES DE SANTENAY operate?

THERMES DE SANTENAY operates in the sector Location de terrains et d'autres biens immobiliers (NAF code 68.20B). See the 'Sector positioning' section above to compare the company with its competitors.