ETUDES TRAVAUX SPECIAUX : revenue, balance sheet and financial ratios

ETUDES TRAVAUX SPECIAUX is a French company founded 34 years ago, specialized in the sector Autres travaux spécialisés de construction. Based in AIX-EN-PROVENCE (13100), this company of category ETI shows in 2024 a revenue of 25.4 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 - ETUDES TRAVAUX SPECIAUX (SIREN 384322020)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 25 381 064 € 24 118 436 € 22 049 887 € 15 375 134 € 14 650 222 € 12 943 965 € 7 511 085 € 7 871 470 € 4 373 719 €
Net income 864 629 € 557 776 € 888 436 € 654 871 € 740 119 € 1 176 629 € 164 029 € -183 919 € -69 469 €
EBITDA 1 512 202 € 1 250 812 € 1 555 512 € 1 124 768 € 1 223 857 € 1 922 728 € 305 007 € -13 828 € 36 800 €
Net margin 3.4% 2.3% 4.0% 4.3% 5.1% 9.1% 2.2% -2.3% -1.6%

Revenue and income statement

In 2024, ETUDES TRAVAUX SPECIAUX achieves revenue of 25.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +24.6%. Vs 2023: +5%. After deducting consumption (3.1 M€), gross margin stands at 22.3 M€, i.e. a rate of 88%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.5 M€, representing 6.0% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 865 k€, i.e. 3.4% 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

25 381 064 €

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

22 300 852 €

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

1 512 202 €

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

1 318 376 €

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

864 629 €

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

6.0%

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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 6%. 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 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.2 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

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

5.732%

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

32.127%

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

4.207%

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

0.19

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

24.1%

Solvency indicators evolution
ETUDES TRAVAUX SPECIAUX

Sector positioning

Debt ratio
5.73 2024
2022
2023
2024
Q1: 3.39
Med: 18.59
Q3: 55.68
Good

In 2024, the debt ratio of ETUDES TRAVAUX SPECIAUX (5.73) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
32.13% 2024
2022
2023
2024
Q1: 18.09%
Med: 38.63%
Q3: 59.74%
Average -17 pts over 3 years

In 2024, the financial autonomy of ETUDES TRAVAUX SPECIAUX (32.1%) 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
0.19 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.25 years
Q3: 1.25 years
Good +18 pts over 3 years

In 2024, the repayment capacity of ETUDES TRAVAUX SPECIAUX (0.19) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 160.34. 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

160.34

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 TRAVAUX SPECIAUX

Sector positioning

Liquidity ratio
160.34 2024
2022
2023
2024
Q1: 147.2
Med: 218.63
Q3: 322.5
Average -10 pts over 3 years

In 2024, the liquidity ratio of ETUDES TRAVAUX SPECIAUX (160.34) 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: 0.32x
Q3: 2.98x
Average

In 2024, the interest coverage of ETUDES TRAVAUX SPECIAUX (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: 93 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 79 days. The company must finance 14 days of gap between collections and payments. Inventory turnover is 13 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 117 days of revenue, i.e. 8.3 M€ to permanently finance. Over 2016-2024, WCR increased by +194%, 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

8 268 897 €

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

93 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

79 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

13 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

117 j

WCR and payment terms evolution
ETUDES TRAVAUX SPECIAUX

Positioning of ETUDES TRAVAUX SPECIAUX in its sector

Comparison with sector Autres travaux spécialisés de construction

Valuation estimate

Indicative estimate only : the number of comparable transactions in this sector is limited (25 transactions). This range of 2 622 807€ to 7 662 367€ is provided for information purposes only and requires in-depth analysis to be confirmed.

Estimated enterprise value 2024
Indicative
2622k€ 4833k€ 7662k€
4 833 457 € Range: 2 622 807€ - 7 662 367€
NAF 5 année 2024

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 25 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 (Autres travaux spécialisés de construction)

Compare ETUDES TRAVAUX SPECIAUX with other companies in the same sector:

Voir toutes les statistiques du secteur Autres travaux spécialisés de construction

Frequently asked questions about ETUDES TRAVAUX SPECIAUX

What is the revenue of ETUDES TRAVAUX SPECIAUX ?

The revenue of ETUDES TRAVAUX SPECIAUX in 2024 is 25.4 M€.

Is ETUDES TRAVAUX SPECIAUX profitable?

Yes, ETUDES TRAVAUX SPECIAUX generated a net profit of 865 k€ in 2024.

Where is the headquarters of ETUDES TRAVAUX SPECIAUX ?

The headquarters of ETUDES TRAVAUX SPECIAUX is located in AIX-EN-PROVENCE (13100), in the department Bouches-du-Rhone.

Where to find the tax return of ETUDES TRAVAUX SPECIAUX ?

The tax return of ETUDES TRAVAUX SPECIAUX 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 TRAVAUX SPECIAUX operate?

ETUDES TRAVAUX SPECIAUX operates in the sector Autres travaux spécialisés de construction (NAF code 43.99D). See the 'Sector positioning' section above to compare the company with its competitors.