SIREN : 443200613
FORMATIVES is a French company founded 23 years ago, specialized in the sector Enseignement secondaire technique ou professionnel. Based in RENNES (35000), this company of category ETI shows in 2025 a revenue of 13.2 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
| Indicator | 2025 | 2023 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|
| Revenue | 13 204 502 € | 10 062 190 € | N/C | N/C | N/C | N/C |
| Net income | 3 416 825 € | 3 620 192 € | 209 841 € | 251 276 € | 107 397 € | 87 084 € |
| EBITDA | 5 539 889 € | 5 008 708 € | N/C | N/C | N/C | N/C |
| Net margin | 25.9% | 36.0% | N/C | N/C | N/C | N/C |
In 2025, FORMATIVES achieves revenue of 13.2 M€. Over the period 2023-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +14.6%. Vs 2023, growth of +31% (10.1 M€ -> 13.2 M€). After deducting consumption (59 €), gross margin stands at 13.2 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.5 M€, representing 42.0% of revenue. Warning negative scissor effect: despite revenue change (+31%), EBITDA varies by +11%, reducing margin by 7.8 pts. This reflects costs rising faster than 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 3.4 M€, i.e. 25.9% of revenue. This profit can be retained or distributed to shareholders.
13 204 502 €
13 204 443 €
5 539 889 €
3 982 423 €
3 416 825 €
41.9%
The debt ratio (= Financial debt / Equity x 100) stands at 17%. 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 75%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 28.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.
16.997%
74.881%
28.509%
0.74
36.3%
In 2025, the debt ratio of FORMATIVES (17.00) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.
In 2025, the financial autonomy of FORMATIVES (74.9%) ranks in the top 25% of the sector. This ratio represents the share of equity in total financing. High autonomy reflects financial independence and ability to absorb shocks.
In 2025, the repayment capacity of FORMATIVES (0.74) 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.
The liquidity ratio (= Current assets / Current liabilities) stands at 873.90. 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 1.4x. Coverage is limited: any activity downturn would jeopardize interest payments.
873.901
1.394
In 2025, the liquidity ratio of FORMATIVES (873.90) 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.
In 2025, the interest coverage of FORMATIVES (1.4x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.
Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 79 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 106 days. Favorable situation: supplier credit is longer than customer credit by 27 days. Overall, WCR represents 524 days of revenue, i.e. 19.2 M€ to permanently finance.
19 203 175 €
79 j
106 j
0 j
524 j
Based on 412 transactions of similar company sales (all years), the value of FORMATIVES is estimated at 11 972 753 € (range 4 736 488€ - 33 972 196€). With an EBITDA of 5 539 889€, the sector multiple of 3.0x is applied. The price/revenue ratio is 0.29x (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.
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This estimate is based on the analysis of 412 actual transactions of similar company sales (same NAF code) registered with BODACC between 2016 and 2025.
This estimate is provided for information purposes only. A precise valuation requires in-depth analysis (assets, liabilities, prospects, market...).
Compare FORMATIVES with other companies in the same sector:
Voir toutes les statistiques du secteur Enseignement secondaire technique ou professionnel
The revenue of FORMATIVES in 2025 is 13.2 M€.
Yes, FORMATIVES generated a net profit of 3.4 M€ in 2025.
The headquarters of FORMATIVES is located in RENNES (35000), in the department Ille-et-Vilaine.
The tax return of FORMATIVES 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).
FORMATIVES operates in the sector Enseignement secondaire technique ou professionnel (NAF code 85.32Z). See the 'Sector positioning' section above to compare the company with its competitors.