ETUDE ET CONCEPTION POLYESTER : revenue, balance sheet and financial ratios

ETUDE ET CONCEPTION POLYESTER is a French company founded 20 years ago, specialized in the sector Fabrication d'éléments en matières plastiques pour la construction. Based in SAINT-JEAN-D'ILLAC (33127), this company of category PME shows in 2023 a revenue of 14.2 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 - ETUDE ET CONCEPTION POLYESTER (SIREN 488533845)
Indicator 2023 2022 2021 2020 2019 2018
Revenue 14 178 945 € 1 245 465 € 14 821 848 € 11 889 069 € 8 323 951 € 5 823 814 €
Net income 760 448 € 275 928 € 892 846 € 728 368 € 392 860 € 177 142 €
EBITDA 1 219 715 € -209 821 € 1 344 253 € 1 315 250 € 788 285 € 479 075 €
Net margin 5.4% 22.2% 6.0% 6.1% 4.7% 3.0%

Revenue and income statement

In 2023, ETUDE ET CONCEPTION POLYESTER achieves revenue of 14.2 M€. Over the period 2018-2023, the company shows strong growth with a CAGR (compound annual growth rate) of +19.5%. Vs 2022, growth of +1038% (1.2 M€ -> 14.2 M€). After deducting consumption (7.0 M€), gross margin stands at 7.2 M€, i.e. a rate of 51%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.2 M€, representing 8.6% of revenue. Positive scissor effect: EBITDA margin improves by +25.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 760 k€, i.e. 5.4% 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

14 178 945 €

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

7 163 095 €

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

1 219 715 €

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

860 682 €

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

760 448 €

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

8.6%

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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 40%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 58%. 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 1.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

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

39.871%

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

57.708%

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

6.819%

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

1.464

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

45.9%

Solvency indicators evolution
ETUDE ET CONCEPTION POLYESTER

Sector positioning

Debt ratio
39.87 2023
2021
2022
2023
Q1: 5.47
Med: 25.71
Q3: 68.89
Average -12 pts over 3 years

In 2023, the debt ratio of ETUDE ET CONCEPTION POLYE... (39.87) 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
57.71% 2023
2021
2022
2023
Q1: 24.49%
Med: 44.52%
Q3: 60.85%
Good +22 pts over 3 years

In 2023, the financial autonomy of ETUDE ET CONCEPTION POLYE... (57.7%) 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
1.46 years 2023
2021
2022
2023
Q1: 0.0 years
Med: 0.72 years
Q3: 2.23 years
Average

In 2023, the repayment capacity of ETUDE ET CONCEPTION POLYE... (1.46) 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 328.34. 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 1.9x. Coverage is limited: any activity downturn would jeopardize interest payments.

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

328.337

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

1.914

Liquidity indicators evolution
ETUDE ET CONCEPTION POLYESTER

Sector positioning

Liquidity ratio
328.34 2023
2021
2022
2023
Q1: 165.05
Med: 233.33
Q3: 327.72
Excellent +30 pts over 3 years

In 2023, the liquidity ratio of ETUDE ET CONCEPTION POLYE... (328.34) 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
1.91x 2023
2021
2022
2023
Q1: 0.29x
Med: 2.11x
Q3: 6.23x
Average -11 pts over 3 years

In 2023, the interest coverage of ETUDE ET CONCEPTION POLYE... (1.9x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 24 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 34 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 46 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2018-2023, WCR increased by +168%, requiring additional financing.

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

1 808 808 €

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

2 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

24 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

34 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

46 j

WCR and payment terms evolution
ETUDE ET CONCEPTION POLYESTER

Positioning of ETUDE ET CONCEPTION POLYESTER in its sector

Comparison with sector Fabrication d'éléments en matières plastiques pour la construction

Valuation estimate

Based on 76 transactions of similar company sales (all years), the value of ETUDE ET CONCEPTION POLYESTER is estimated at 1 899 163 € (range 802 784€ - 3 907 261€). With an EBITDA of 1 219 715€, the sector multiple of 1.3x is applied. The price/revenue ratio is 0.20x (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
76 tx
802k€ 1899k€ 3907k€
1 899 163 € Range: 802 784€ - 3 907 261€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation detail by method

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EBITDA Multiple 50%
1 219 715 € × 1.3x
Estimation 1 540 346 €
614 420€ - 3 419 911€
Revenue Multiple 30%
14 178 945 € × 0.20x
Estimation 2 884 664 €
1 379 011€ - 3 882 049€
Net Income Multiple 20%
760 448 € × 1.7x
Estimation 1 317 957 €
409 353€ - 5 163 456€
How is this estimate calculated?

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.

  • 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'éléments en matières plastiques pour la construction)

Compare ETUDE ET CONCEPTION POLYESTER with other companies in the same sector:

Voir toutes les statistiques du secteur Fabrication d'éléments en matières plastiques pour la construction

Frequently asked questions about ETUDE ET CONCEPTION POLYESTER

What is the revenue of ETUDE ET CONCEPTION POLYESTER ?

The revenue of ETUDE ET CONCEPTION POLYESTER in 2023 is 14.2 M€.

Is ETUDE ET CONCEPTION POLYESTER profitable?

Yes, ETUDE ET CONCEPTION POLYESTER generated a net profit of 760 k€ in 2023.

Where is the headquarters of ETUDE ET CONCEPTION POLYESTER ?

The headquarters of ETUDE ET CONCEPTION POLYESTER is located in SAINT-JEAN-D'ILLAC (33127), in the department Gironde.

Where to find the tax return of ETUDE ET CONCEPTION POLYESTER ?

The tax return of ETUDE ET CONCEPTION POLYESTER 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 ETUDE ET CONCEPTION POLYESTER operate?

ETUDE ET CONCEPTION POLYESTER operates in the sector Fabrication d'éléments en matières plastiques pour la construction (NAF code 22.23Z). See the 'Sector positioning' section above to compare the company with its competitors.