INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE : revenue, balance sheet and financial ratios

INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE is a French company founded 15 years ago, specialized in the sector Activités spécialisées, scientifiques et techniques diverses. Based in STRASBOURG (67100), this company of category PME shows in 2019 a revenue of 362 k€. 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 - INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE (SIREN 523572675)
Indicator 2019 2018 2017 2016
Revenue 361 642 € 265 424 € 226 680 € 161 385 €
Net income -2 361 € 0 € 0 € -100 676 €
EBITDA 26 380 € -54 758 € -51 503 € -69 894 €
Net margin -0.7% 0.0% 0.0% -62.4%

Revenue and income statement

In 2019, INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE achieves revenue of 362 k€. Over the period 2016-2019, the company shows strong growth with a CAGR (compound annual growth rate) of +30.9%. Vs 2018, growth of +36% (265 k€ -> 362 k€). After deducting consumption (52 k€), gross margin stands at 309 k€, i.e. a rate of 86%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 26 k€, representing 7.3% of revenue. Positive scissor effect: EBITDA margin improves by +27.9 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -2 k€ (-0.7% of revenue), which will impact equity.

Revenue (2019) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

361 642 €

Gross margin (2019) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

309 463 €

EBITDA (2019) ?
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

26 380 €

EBIT (2019) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

5 747 €

Net income (2019) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

-2 361 €

EBITDA margin (2019) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

6.4%

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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 0%. 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 71%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2019) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.111%

Financial autonomy (2019) ?
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

71.053%

Cash flow / Revenue (2019) ?
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

4.36%

Repayment capacity (2019) ?
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

0.001

Asset age ratio (2019) ?
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

4.5%

Solvency indicators evolution
INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE

Sector positioning

Debt ratio
0.11 2019
2017
2018
2019
Q1: 0.0
Med: 4.77
Q3: 44.69
Good -42 pts over 3 years

In 2019, the debt ratio of INSTITUT DE RECHERCHE ET ... (0.11) 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
71.05% 2019
2017
2018
2019
Q1: 4.45%
Med: 35.56%
Q3: 66.12%
Excellent +9 pts over 3 years

In 2019, the financial autonomy of INSTITUT DE RECHERCHE ET ... (71.0%) 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.

Repayment capacity
0.0 years 2019
2017
2018
2019
Q1: 0.0 years
Med: 0.0 years
Q3: 0.52 years
Good -25 pts over 3 years

In 2019, the repayment capacity of INSTITUT DE RECHERCHE ET ... (0.00) 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 291.39. 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 2.5x. Financial charges are adequately covered by operations.

Liquidity ratio (2019) ?
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

291.392

Interest coverage (2019) ?
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

2.528

Liquidity indicators evolution
INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE

Sector positioning

Liquidity ratio
291.39 2019
2017
2018
2019
Q1: 138.61
Med: 249.95
Q3: 494.4
Good

In 2019, the liquidity ratio of INSTITUT DE RECHERCHE ET ... (291.39) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
2.53x 2019
2017
2018
2019
Q1: 0.0x
Med: 0.0x
Q3: 0.43x
Excellent +50 pts over 3 years

In 2019, the interest coverage of INSTITUT DE RECHERCHE ET ... (2.5x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 33 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 33 days. Inventory turnover is 60 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 111 days of revenue, i.e. 111 k€ to permanently finance.

Operating WCR (2019) ?
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

111 360 €

Customer credit (2019) ?
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

33 j

Supplier credit (2019) ?
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

33 j

Inventory turnover (2019) ?
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

60 j

WCR in days of revenue (2019) ?
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

111 j

WCR and payment terms evolution
INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE

Positioning of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE in its sector

Comparison with sector Activités spécialisées, scientifiques et techniques diverses

Valuation estimate

Based on 98 transactions of similar company sales (all years), the value of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE is estimated at 106 410 € (range 30 418€ - 177 044€). With an EBITDA of 26 380€, the sector multiple of 3.5x is applied. The price/revenue ratio is 0.36x (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 2019
98 tx
30k€ 106k€ 177k€
106 410 € Range: 30 418€ - 177 044€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
26 380 € × 3.5x
Estimation 91 387 €
22 771€ - 149 817€
Revenue Multiple 30%
361 642 € × 0.36x
Estimation 131 451 €
43 164€ - 222 423€
How is this estimate calculated?

This estimate is based on the analysis of 98 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 (Activités spécialisées, scientifiques et techniques diverses)

Compare INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE with other companies in the same sector:

Voir toutes les statistiques du secteur Activités spécialisées, scientifiques et techniques diverses

Frequently asked questions about INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE

What is the revenue of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE ?

The revenue of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE in 2019 is 362 k€.

Is INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE profitable?

INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE recorded a net loss in 2019.

Where is the headquarters of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE ?

The headquarters of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE is located in STRASBOURG (67100), in the department Bas-Rhin.

Where to find the tax return of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE ?

The tax return of INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE 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 INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE operate?

INSTITUT DE RECHERCHE ET D'EXPERTISE SCIENTIFIQUE operates in the sector Activités spécialisées, scientifiques et techniques diverses (NAF code 74.90B). See the 'Sector positioning' section above to compare the company with its competitors.