TONNELLERIE FRANCOIS FRERES : revenue, balance sheet and financial ratios

TONNELLERIE FRANCOIS FRERES is a French company founded 70 years ago, specialized in the sector Fabrication d'emballages en bois. Based in SAINT-ROMAIN (21190), this company of category ETI shows in 2025 a revenue of 39.2 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 - TONNELLERIE FRANCOIS FRERES (SIREN 515620441)
Indicator 2025 2024 2023 2022 2021 2020 2019 2017
Revenue 39 212 307 € 39 806 736 € 44 492 978 € 34 679 344 € 29 218 007 € 37 088 898 € 37 686 262 € 32 576 185 €
Net income 2 641 851 € 1 190 216 € 14 727 890 € 10 428 266 € 7 114 561 € 6 671 670 € 12 097 319 € 8 663 769 €
EBITDA 10 960 600 € 10 759 355 € 10 812 132 € 9 586 482 € 8 457 668 € 10 908 099 € 11 038 139 € 8 367 517 €
Net margin 6.7% 3.0% 33.1% 30.1% 24.3% 18.0% 32.1% 26.6%

Revenue and income statement

In 2025, TONNELLERIE FRANCOIS FRERES achieves revenue of 39.2 M€. Revenue is growing positively over 8 years (CAGR: +2.3%). Slight decline of -1% vs 2024. After deducting consumption (16.6 M€), gross margin stands at 22.6 M€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 11.0 M€, representing 28.0% of revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 2.6 M€, i.e. 6.7% 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

39 212 307 €

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

22 619 388 €

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

10 960 600 €

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

11 698 429 €

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

2 641 851 €

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

27.9%

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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 688%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 10%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 30.1 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 20.3% 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 (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

688.27%

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

10.428%

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

20.286%

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

30.13

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

28.1%

Solvency indicators evolution
TONNELLERIE FRANCOIS FRERES

Sector positioning

Debt ratio
688.27 2025
2023
2024
2025
Q1: 8.4
Med: 24.78
Q3: 54.43
Watch

In 2025, the debt ratio of TONNELLERIE FRANCOIS FRERES (688.27) 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
10.43% 2025
2023
2024
2025
Q1: 44.19%
Med: 59.78%
Q3: 73.0%
Average

In 2025, the financial autonomy of TONNELLERIE FRANCOIS FRERES (10.4%) 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
30.13 years 2025
2023
2024
2025
Q1: 0.28 years
Med: 1.84 years
Q3: 5.01 years
Watch

In 2025, the repayment capacity of TONNELLERIE FRANCOIS FRERES (30.13) 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 87.75. 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 220.8x. 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

87.746

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

220.79

Liquidity indicators evolution
TONNELLERIE FRANCOIS FRERES

Sector positioning

Liquidity ratio
87.75 2025
2023
2024
2025
Q1: 205.24
Med: 329.49
Q3: 512.28
Watch -6 pts over 3 years

In 2025, the liquidity ratio of TONNELLERIE FRANCOIS FRERES (87.75) 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
220.79x 2025
2023
2024
2025
Q1: 0.85x
Med: 5.45x
Q3: 18.25x
Excellent +21 pts over 3 years

In 2025, the interest coverage of TONNELLERIE FRANCOIS FRERES (220.8x) 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: 81 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 64 days. The company must finance 17 days of gap between collections and payments. Inventory turnover is 481 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 964 days of revenue, i.e. 105.0 M€ to permanently finance. Over 2017-2025, WCR increased by +53%, requiring additional financing.

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

104 985 070 €

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

81 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

64 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

481 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

964 j

WCR and payment terms evolution
TONNELLERIE FRANCOIS FRERES

Positioning of TONNELLERIE FRANCOIS FRERES in its sector

Comparison with sector Fabrication d'emballages en bois

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (44 transactions). This range of 5 524 448€ to 34 872 910€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2025
Indicative
5524k€ 11974k€ 34872k€
11 974 505 € Range: 5 524 448€ - 34 872 910€
NAF 4 all-time Aggregated at NAF sub-class level
How is this estimate calculated?

This estimate is based on the analysis of 44 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'emballages en bois)

Compare TONNELLERIE FRANCOIS FRERES with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication d'emballages en bois

Frequently asked questions about TONNELLERIE FRANCOIS FRERES

What is the revenue of TONNELLERIE FRANCOIS FRERES ?

The revenue of TONNELLERIE FRANCOIS FRERES in 2025 is 39.2 M€.

Is TONNELLERIE FRANCOIS FRERES profitable?

Yes, TONNELLERIE FRANCOIS FRERES generated a net profit of 2.6 M€ in 2025.

Where is the headquarters of TONNELLERIE FRANCOIS FRERES ?

The headquarters of TONNELLERIE FRANCOIS FRERES is located in SAINT-ROMAIN (21190), in the department Cote-d'Or.

Where to find the tax return of TONNELLERIE FRANCOIS FRERES ?

The tax return of TONNELLERIE FRANCOIS FRERES 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 TONNELLERIE FRANCOIS FRERES operate?

TONNELLERIE FRANCOIS FRERES operates in the sector Fabrication d'emballages en bois (NAF code 16.24Z). See the 'Sector positioning' section above to compare the company with its competitors.