TIM COMPOSITES : revenue, balance sheet and financial ratios

TIM COMPOSITES is a French company founded 29 years ago, specialized in the sector Fabrication de structures métalliques et de parties de structures. Based in CHOLET (49300), this company of category ETI shows in 2023 a revenue of 12.1 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 - TIM COMPOSITES (SIREN 409166840)
Indicator 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 12 081 616 € 12 069 357 € 11 855 192 € 9 520 414 € 8 119 901 € 8 046 225 € 9 845 959 € 8 744 587 €
Net income 183 807 € 455 861 € 695 860 € 1 135 124 € 340 524 € 171 489 € -382 312 € -61 848 €
EBITDA 465 594 € 562 222 € 646 434 € 121 207 € 470 760 € 202 295 € -350 177 € 290 357 €
Net margin 1.5% 3.8% 5.9% 11.9% 4.2% 2.1% -3.9% -0.7%

Revenue and income statement

In 2023, TIM COMPOSITES achieves revenue of 12.1 M€. Revenue is growing positively over 8 years (CAGR: +4.7%). Vs 2022: +0%. After deducting consumption (5.8 M€), gross margin stands at 6.3 M€, i.e. a rate of 52%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 466 k€, representing 3.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 184 k€, i.e. 1.5% 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

12 081 616 €

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

6 274 990 €

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

465 594 €

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

226 773 €

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

183 807 €

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

3.9%

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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 72%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 28%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 3.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

72.003%

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

27.958%

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

3.299%

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

3.656

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

33.6%

Solvency indicators evolution
TIM COMPOSITES

Sector positioning

Debt ratio
72.0 2023
2021
2022
2023
Q1: 7.48
Med: 26.89
Q3: 65.8
Average +10 pts over 3 years

In 2023, the debt ratio of TIM COMPOSITES (72.00) 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
27.96% 2023
2021
2022
2023
Q1: 25.08%
Med: 43.12%
Q3: 59.43%
Average -5 pts over 3 years

In 2023, the financial autonomy of TIM COMPOSITES (28.0%) 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
3.66 years 2023
2021
2022
2023
Q1: 0.04 years
Med: 0.85 years
Q3: 2.26 years
Watch +17 pts over 3 years

In 2023, the repayment capacity of TIM COMPOSITES (3.66) 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 144.81. 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 6.6x. Operating income very largely covers interest expenses: high safety margin.

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

144.809

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

6.568

Liquidity indicators evolution
TIM COMPOSITES

Sector positioning

Liquidity ratio
144.81 2023
2021
2022
2023
Q1: 168.16
Med: 232.54
Q3: 329.08
Watch

In 2023, the liquidity ratio of TIM COMPOSITES (144.81) 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
6.57x 2023
2021
2022
2023
Q1: 0.07x
Med: 1.31x
Q3: 4.95x
Excellent +47 pts over 3 years

In 2023, the interest coverage of TIM COMPOSITES (6.6x) 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 28 days. The gap of 41 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 77 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 72 days of revenue, i.e. 2.4 M€ to permanently finance.

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

2 426 109 €

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

69 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

28 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

77 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

72 j

WCR and payment terms evolution
TIM COMPOSITES

Positioning of TIM COMPOSITES in its sector

Comparison with sector Fabrication de structures métalliques et de parties de structures

Valuation estimate

Based on 56 transactions of similar company sales (all years), the value of TIM COMPOSITES is estimated at 778 359 € (range 452 315€ - 1 407 157€). With an EBITDA of 465 594€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.13x (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 2023
56 tx
452k€ 778k€ 1407k€
778 359 € Range: 452 315€ - 1 407 157€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
465 594 € × 1.0x
Estimation 482 756 €
309 967€ - 1 114 304€
Revenue Multiple 30%
12 081 616 € × 0.13x
Estimation 1 555 251 €
820 489€ - 1 974 643€
Net Income Multiple 20%
183 807 € × 1.9x
Estimation 352 030 €
255 928€ - 1 288 066€
How is this estimate calculated?

This estimate is based on the analysis of 56 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 structures métalliques et de parties de structures)

Compare TIM COMPOSITES with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication de structures métalliques et de parties de structures

Frequently asked questions about TIM COMPOSITES

What is the revenue of TIM COMPOSITES ?

The revenue of TIM COMPOSITES in 2023 is 12.1 M€.

Is TIM COMPOSITES profitable?

Yes, TIM COMPOSITES generated a net profit of 184 k€ in 2023.

Where is the headquarters of TIM COMPOSITES ?

The headquarters of TIM COMPOSITES is located in CHOLET (49300), in the department Maine-et-Loire.

Where to find the tax return of TIM COMPOSITES ?

The tax return of TIM COMPOSITES 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 TIM COMPOSITES operate?

TIM COMPOSITES operates in the sector Fabrication de structures métalliques et de parties de structures (NAF code 25.11Z). See the 'Sector positioning' section above to compare the company with its competitors.