ETUDES PROGRAMAT OPTIMISATION SOFTWARE : revenue, balance sheet and financial ratios

ETUDES PROGRAMAT OPTIMISATION SOFTWARE is a French company founded 57 years ago, specialized in the sector Edition de logiciels applicatifs. Based in ISSY-LES-MOULINEAUX (92130), this company of category PME shows in 2024 a revenue of 1.6 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 - ETUDES PROGRAMAT OPTIMISATION SOFTWARE (SIREN 692008121)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 1 565 880 € 1 384 258 € 1 182 812 € 1 131 646 € 1 185 990 € 1 290 745 € 1 301 663 € 1 396 285 € 1 276 291 €
Net income 188 465 € 117 513 € 146 654 € 182 403 € 135 389 € 115 555 € 119 893 € 140 087 € 98 763 €
EBITDA 195 038 € 121 310 € 155 138 € 225 522 € 193 965 € 174 491 € 170 058 € 179 785 € 158 970 €
Net margin 12.0% 8.5% 12.4% 16.1% 11.4% 9.0% 9.2% 10.0% 7.7%

Revenue and income statement

In 2024, ETUDES PROGRAMAT OPTIMISATION SOFTWARE achieves revenue of 1.6 M€. Revenue is growing positively over 9 years (CAGR: +2.6%). Vs 2023, growth of +13% (1.4 M€ -> 1.6 M€). After deducting consumption (20 k€), gross margin stands at 1.5 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 195 k€, representing 12.5% of revenue. Positive scissor effect: EBITDA margin improves by +3.7 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 188 k€, i.e. 12.0% 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

1 565 880 €

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

1 546 235 €

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

195 038 €

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

202 356 €

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

188 465 €

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

12.5%

Loading income statement...

Chart evolution

Show :

Assets

Loading data...

Liabilities

Loading data...

Solvency and debt ratios

The debt ratio (= Financial debt / Equity x 100) stands at 68%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 10.5% 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 (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

67.684%

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

24.622%

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

10.506%

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

1.167

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

3.6%

Solvency indicators evolution
ETUDES PROGRAMAT OPTIMISATION SOFTWARE

Sector positioning

Debt ratio
67.68 2024
2022
2023
2024
Q1: 0.0
Med: 5.29
Q3: 44.39
Average +16 pts over 3 years

In 2024, the debt ratio of ETUDES PROGRAMAT OPTIMISA... (67.68) 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
24.62% 2024
2022
2023
2024
Q1: 11.65%
Med: 39.77%
Q3: 62.21%
Average -22 pts over 3 years

In 2024, the financial autonomy of ETUDES PROGRAMAT OPTIMISA... (24.6%) 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
1.17 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.8 years
Average

In 2024, the repayment capacity of ETUDES PROGRAMAT OPTIMISA... (1.17) 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 162.58. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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

162.578

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

0.0

Liquidity indicators evolution
ETUDES PROGRAMAT OPTIMISATION SOFTWARE

Sector positioning

Liquidity ratio
162.58 2024
2022
2023
2024
Q1: 146.39
Med: 243.79
Q3: 459.15
Average -16 pts over 3 years

In 2024, the liquidity ratio of ETUDES PROGRAMAT OPTIMISA... (162.58) 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
0.0x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 2.19x
Average

In 2024, the interest coverage of ETUDES PROGRAMAT OPTIMISA... (0.0x) 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: 112 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 142 days. Favorable situation: supplier credit is longer than customer credit by 30 days. Overall, WCR represents 181 days of revenue, i.e. 788 k€ to permanently finance. Over 2016-2024, WCR increased by +1151%, 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

788 092 €

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

112 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

142 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

0 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

181 j

WCR and payment terms evolution
ETUDES PROGRAMAT OPTIMISATION SOFTWARE

Positioning of ETUDES PROGRAMAT OPTIMISATION SOFTWARE 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 ETUDES PROGRAMAT OPTIMISATION SOFTWARE is estimated at 257 358 € (range 99 775€ - 715 034€). With an EBITDA of 195 038€, 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
99k€ 257k€ 715k€
257 358 € Range: 99 775€ - 715 034€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
195 038 € × 1.0x
Estimation 189 303 €
62 080€ - 611 724€
Revenue Multiple 30%
1 565 880 € × 0.25x
Estimation 389 641 €
172 126€ - 857 533€
Net Income Multiple 20%
188 465 € × 1.2x
Estimation 229 074 €
85 488€ - 759 565€
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 ETUDES PROGRAMAT OPTIMISATION SOFTWARE with other companies in the same sector:

Voir toutes les statistiques du secteur Edition de logiciels applicatifs

Frequently asked questions about ETUDES PROGRAMAT OPTIMISATION SOFTWARE

What is the revenue of ETUDES PROGRAMAT OPTIMISATION SOFTWARE ?

The revenue of ETUDES PROGRAMAT OPTIMISATION SOFTWARE in 2024 is 1.6 M€.

Is ETUDES PROGRAMAT OPTIMISATION SOFTWARE profitable?

Yes, ETUDES PROGRAMAT OPTIMISATION SOFTWARE generated a net profit of 188 k€ in 2024.

Where is the headquarters of ETUDES PROGRAMAT OPTIMISATION SOFTWARE ?

The headquarters of ETUDES PROGRAMAT OPTIMISATION SOFTWARE is located in ISSY-LES-MOULINEAUX (92130), in the department Hauts-de-Seine.

Where to find the tax return of ETUDES PROGRAMAT OPTIMISATION SOFTWARE ?

The tax return of ETUDES PROGRAMAT OPTIMISATION SOFTWARE 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 ETUDES PROGRAMAT OPTIMISATION SOFTWARE operate?

ETUDES PROGRAMAT OPTIMISATION SOFTWARE 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.