SIREN : 747252120
TSO is a French company founded 54 years ago, specialized in the sector Construction de voies ferrées de surface et souterraines. Based in CHELLES (77500), this company of category GE shows in 2024 a revenue of 192.9 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
| Indicator | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 192 889 464 € | 148 266 357 € | 185 326 471 € | 144 623 768 € | 138 895 797 € | 133 805 924 € | 130 539 492 € | 145 792 711 € | 171 081 047 € |
| Net income | 6 609 474 € | 13 872 977 € | 20 989 066 € | 2 434 835 € | 21 235 220 € | 6 161 631 € | 4 908 395 € | 15 532 248 € | 34 412 422 € |
| EBITDA | -40 814 799 € | -23 137 799 € | -29 261 562 € | -41 151 142 € | -18 377 606 € | -36 344 271 € | -21 048 801 € | -7 083 279 € | 11 035 082 € |
| Net margin | 3.4% | 9.4% | 11.3% | 1.7% | 15.3% | 4.6% | 3.8% | 10.7% | 20.1% |
In 2024, TSO achieves revenue of 192.9 M€. Revenue is growing positively over 9 years (CAGR: +1.5%). Vs 2023, growth of +30% (148.3 M€ -> 192.9 M€). After deducting consumption (4.9 M€), gross margin stands at 188.0 M€, i.e. a rate of 97%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -40.8 M€, representing -21.2% of revenue. Warning negative scissor effect: despite revenue change (+30%), EBITDA varies by -76%, reducing margin by 5.6 pts. This reflects costs rising faster than revenue. Negative EBITDA means operations do not cover current expenses: concerning situation. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 6.6 M€, i.e. 3.4% of revenue. This profit can be retained or distributed to shareholders.
192 889 464 €
188 001 180 €
-40 814 799 €
-3 335 875 €
6 609 474 €
-21.1%
The debt ratio (= Financial debt / Equity x 100) stands at 324%. 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 6.2 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.
323.855%
10.214%
7.406%
6.214
39.0%
In 2024, the debt ratio of TSO (323.86) 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.
In 2024, the financial autonomy of TSO (10.2%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.
In 2024, the repayment capacity of TSO (6.21) 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.
The liquidity ratio (= Current assets / Current liabilities) stands at 125.02. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.
125.019
-31.553
In 2024, the liquidity ratio of TSO (125.02) 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.
In 2024, the interest coverage of TSO (-31.6x) ranks in the bottom 25% of the sector. This ratio indicates how many times operating income covers interest expenses. Low coverage may indicate fragility to rate or income variations.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 138 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 138 days. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 199 days of revenue, i.e. 106.7 M€ to permanently finance. Over 2016-2024, WCR increased by +43%, requiring additional financing.
106 664 016 €
138 j
138 j
5 j
199 j
Based on 76 transactions of similar company sales
(all years),
the value of TSO is estimated at
17 075 434 €
(range 11 546 183€ - 34 713 427€).
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.
Ajustez les pondérations selon votre analyse
This estimate is based on the analysis of 76 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare TSO with other companies in the same sector:
Voir toutes les statistiques du secteur Construction de voies ferrées de surface et souterraines
The revenue of TSO in 2024 is 192.9 M€.
Yes, TSO generated a net profit of 6.6 M€ in 2024.
The headquarters of TSO is located in CHELLES (77500), in the department Seine-et-Marne.
The tax return of TSO 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).
TSO operates in the sector Construction de voies ferrées de surface et souterraines (NAF code 42.12Z). See the 'Sector positioning' section above to compare the company with its competitors.