ALPES RECHERCHE ET DEVELOPPEMENT : revenue, balance sheet and financial ratios

ALPES RECHERCHE ET DEVELOPPEMENT is a French company founded 43 years ago, specialized in the sector Edition de logiciels applicatifs. Based in GAP (05000), this company of category ETI shows in 2024 a revenue of 16.1 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 - ALPES RECHERCHE ET DEVELOPPEMENT (SIREN 326114675)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 16 114 222 € 15 248 539 € 13 058 790 € 11 277 810 € 9 191 579 € 10 294 488 € 9 928 206 € 9 505 166 € 8 295 658 €
Net income 674 532 € 811 813 € 688 347 € 666 088 € -366 225 € 794 304 € 856 218 € 1 010 433 € 976 344 €
EBITDA 3 111 186 € 2 768 094 € 2 088 215 € 1 651 290 € 536 645 € 1 139 789 € 1 520 954 € 1 527 361 € 1 412 430 €
Net margin 4.2% 5.3% 5.3% 5.9% -4.0% 7.7% 8.6% 10.6% 11.8%

Revenue and income statement

In 2024, ALPES RECHERCHE ET DEVELOPPEMENT achieves revenue of 16.1 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.7%. Vs 2023: +6%. After deducting consumption (5.6 M€), gross margin stands at 10.5 M€, i.e. a rate of 65%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.1 M€, representing 19.3% 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 675 k€, i.e. 4.2% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

16 114 222 €

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

10 498 677 €

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

3 111 186 €

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

1 473 266 €

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

674 532 €

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

19.3%

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Chart evolution

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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 39%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 39%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 9.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

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

38.978%

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

39.416%

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

9.908%

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

0.992

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

32.5%

Solvency indicators evolution
ALPES RECHERCHE ET DEVELOPPEMENT

Sector positioning

Debt ratio
38.98 2024
2022
2023
2024
Q1: 0.0
Med: 5.29
Q3: 44.39
Average +22 pts over 3 years

In 2024, the debt ratio of ALPES RECHERCHE ET DEVELO... (38.98) 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
39.42% 2024
2022
2023
2024
Q1: 11.65%
Med: 39.77%
Q3: 62.21%
Average

In 2024, the financial autonomy of ALPES RECHERCHE ET DEVELO... (39.4%) 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
0.99 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.8 years
Average +20 pts over 3 years

In 2024, the repayment capacity of ALPES RECHERCHE ET DEVELO... (0.99) 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 221.83. 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 2.7x. Financial charges are adequately covered by operations.

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

221.827

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

2.722

Liquidity indicators evolution
ALPES RECHERCHE ET DEVELOPPEMENT

Sector positioning

Liquidity ratio
221.83 2024
2022
2023
2024
Q1: 146.39
Med: 243.79
Q3: 459.15
Average +18 pts over 3 years

In 2024, the liquidity ratio of ALPES RECHERCHE ET DEVELO... (221.83) ranks below the median of the sector. This ratio measures the ability to cover short-term debt with current assets. An improvement would strengthen the competitive position.

Interest coverage
2.72x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 2.19x
Excellent +18 pts over 3 years

In 2024, the interest coverage of ALPES RECHERCHE ET DEVELO... (2.7x) 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: 118 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 90 days. The company must finance 28 days of gap between collections and payments. Inventory turnover is 38 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 111 days of revenue, i.e. 5.0 M€ to permanently finance. Over 2016-2024, WCR increased by +254%, requiring additional financing.

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

4 970 593 €

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

118 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

90 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

38 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

111 j

WCR and payment terms evolution
ALPES RECHERCHE ET DEVELOPPEMENT

Positioning of ALPES RECHERCHE ET DEVELOPPEMENT in its sector

Comparison with sector Edition de logiciels applicatifs

Valuation estimate

Based on 103 transactions of similar company sales (all years), the value of ALPES RECHERCHE ET DEVELOPPEMENT is estimated at 2 876 744 € (range 1 087 732€ - 8 070 144€). With an EBITDA of 3 111 186€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.25x (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.

Estimated enterprise value 2024
103 transactions
1087k€ 2876k€ 8070k€
2 876 744 € Range: 1 087 732€ - 8 070 144€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
3 111 186 € × 1.0x
Estimation 3 019 700 €
990 282€ - 9 758 032€
Revenue Multiple 30%
16 114 222 € × 0.25x
Estimation 4 009 734 €
1 771 325€ - 8 824 731€
Net Income Multiple 20%
674 532 € × 1.2x
Estimation 819 874 €
305 969€ - 2 718 546€
How is this estimate calculated?

This estimate is based on the analysis of 103 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 (Edition de logiciels applicatifs)

Compare ALPES RECHERCHE ET DEVELOPPEMENT with other companies in the same sector:

Voir toutes les statistiques du secteur Edition de logiciels applicatifs

Frequently asked questions about ALPES RECHERCHE ET DEVELOPPEMENT

What is the revenue of ALPES RECHERCHE ET DEVELOPPEMENT ?

The revenue of ALPES RECHERCHE ET DEVELOPPEMENT in 2024 is 16.1 M€.

Is ALPES RECHERCHE ET DEVELOPPEMENT profitable?

Yes, ALPES RECHERCHE ET DEVELOPPEMENT generated a net profit of 675 k€ in 2024.

Where is the headquarters of ALPES RECHERCHE ET DEVELOPPEMENT ?

The headquarters of ALPES RECHERCHE ET DEVELOPPEMENT is located in GAP (05000), in the department Hautes-Alpes.

Where to find the tax return of ALPES RECHERCHE ET DEVELOPPEMENT ?

The tax return of ALPES RECHERCHE ET DEVELOPPEMENT 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 ALPES RECHERCHE ET DEVELOPPEMENT operate?

ALPES RECHERCHE ET DEVELOPPEMENT operates in the sector Edition de logiciels applicatifs (NAF code 58.29C). See the 'Sector positioning' section above to compare the company with its competitors.