ETUDES RECHERCHES TECHNIQUES : revenue, balance sheet and financial ratios

ETUDES RECHERCHES TECHNIQUES is a French company founded 126 years ago, specialized in the sector Ingénierie, études techniques. Based in TOULOUSE (31100), this company of category PME shows in 2024 a revenue of 104 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-04-25

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - ETUDES RECHERCHES TECHNIQUES (SIREN 730801354)
Indicator 2024 2023 2022 2021 2020 2019 2018 2016 2015 2014 2013
Revenue 103 969 € 100 510 € 102 262 € 148 097 € 190 226 € 94 948 € 127 892 € 143 432 € 191 287 € 192 426 € 266 630 €
Net income -32 817 € 9 490 € -49 542 € 5 421 € 52 296 € -8 933 € -19 562 € 16 374 € 40 673 € 24 789 € 31 764 €
EBITDA -18 281 € -28 876 € -42 976 € 15 068 € 56 794 € -37 477 € -7 462 € 1 310 € 50 772 € 31 867 € 44 118 €
Net margin -31.6% 9.4% -48.4% 3.7% 27.5% -9.4% -15.3% 11.4% 21.3% 12.9% 11.9%

Revenue and income statement

In 2024, ETUDES RECHERCHES TECHNIQUES achieves revenue of 104 k€. Revenue is declining over the period 2013-2024 (CAGR: -8.2%). Vs 2023: +3%. After deducting consumption (0 €), gross margin stands at 104 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches -18 k€, representing -17.6% of revenue. Positive scissor effect: EBITDA margin improves by +11.1 pts, sign of improved operational efficiency. Negative EBITDA means operations do not cover current expenses: concerning situation. Net income is negative at -33 k€ (-31.6% of revenue), which will impact equity.

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

103 969 €

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

103 969 €

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

-18 281 €

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

-33 606 €

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

-32 817 €

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

-17.6%

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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 -384%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches -6%. Low autonomy: the company heavily depends on external financing (banks, suppliers).

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

-383.972%

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

-5.997%

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

-19.572%

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

-2.084

Solvency indicators evolution
ETUDES RECHERCHES TECHNIQUES

Sector positioning

Debt ratio
-383.97 2024
2022
2023
2024
Q1: 0.0
Med: 8.24
Q3: 42.82
Excellent -50 pts over 3 years

In 2024, the debt ratio of ETUDES RECHERCHES TECHNIQUES (-383.97) ranks in the bottom 25% of the sector, which is positive. This ratio measures the weight of debt relative to equity. A low ratio indicates a solid financial structure with little dependence on creditors.

Financial autonomy
-6.0% 2024
2022
2023
2024
Q1: 11.26%
Med: 37.88%
Q3: 61.35%
Average

In 2024, the financial autonomy of ETUDES RECHERCHES TECHNIQUES (-6.0%) 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
-2.08 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.0 years
Q3: 0.9 years
Excellent

In 2024, the repayment capacity of ETUDES RECHERCHES TECHNIQUES (-2.08) ranks in the bottom 25% of the sector, which is positive. This ratio indicates the number of years needed to repay debt with cash flow. A short capacity reflects controlled debt and good cash generation.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 120.33. 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

120.332

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

-0.76

Liquidity indicators evolution
ETUDES RECHERCHES TECHNIQUES

Sector positioning

Liquidity ratio
120.33 2024
2022
2023
2024
Q1: 148.99
Med: 229.96
Q3: 405.09
Watch

In 2024, the liquidity ratio of ETUDES RECHERCHES TECHNIQUES (120.33) 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
-0.76x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 2.04x
Average

In 2024, the interest coverage of ETUDES RECHERCHES TECHNIQUES (-0.8x) 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: 506 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 136 days. The gap of 370 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 34 days of revenue, i.e. 10 k€ to permanently finance. Over 2013-2024, WCR increased by +142%, 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

9 961 €

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

506 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

136 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

34 j

WCR and payment terms evolution
ETUDES RECHERCHES TECHNIQUES

Positioning of ETUDES RECHERCHES TECHNIQUES in its sector

Comparison with sector Ingénierie, études techniques

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (40 transactions). This range of 15 048€ to 25 914€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
15k€ 17k€ 25k€
17 391 € Range: 15 048€ - 25 914€
NAF 5 année 2024

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 40 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 (Ingénierie, études techniques)

Compare ETUDES RECHERCHES TECHNIQUES with other companies in the same sector:

Voir toutes les statistiques du secteur Ingénierie, études techniques

Frequently asked questions about ETUDES RECHERCHES TECHNIQUES

What is the revenue of ETUDES RECHERCHES TECHNIQUES ?

The revenue of ETUDES RECHERCHES TECHNIQUES in 2024 is 104 k€.

Is ETUDES RECHERCHES TECHNIQUES profitable?

ETUDES RECHERCHES TECHNIQUES recorded a net loss in 2024.

Where is the headquarters of ETUDES RECHERCHES TECHNIQUES ?

The headquarters of ETUDES RECHERCHES TECHNIQUES is located in TOULOUSE (31100), in the department Haute-Garonne.

Where to find the tax return of ETUDES RECHERCHES TECHNIQUES ?

The tax return of ETUDES RECHERCHES TECHNIQUES 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 RECHERCHES TECHNIQUES operate?

ETUDES RECHERCHES TECHNIQUES operates in the sector Ingénierie, études techniques (NAF code 71.12B). See the 'Sector positioning' section above to compare the company with its competitors.