MICHEL RECHERCHE : revenue, balance sheet and financial ratios

MICHEL RECHERCHE is a French company founded 18 years ago, specialized in the sector Activités spécialisées, scientifiques et techniques diverses. Based in ARTIX (64170), this company of category PME shows in 2018 a revenue of 160 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 - MICHEL RECHERCHE (SIREN 504963794)
Indicator 2018 2017 2016
Revenue 160 000 € 234 140 € N/C
Net income 130 470 € 73 970 € 76 508 €
EBITDA 38 289 € 45 900 € -353 576 €
Net margin 81.5% 31.6% N/C

Revenue and income statement

In 2018, MICHEL RECHERCHE achieves revenue of 160 k€. Revenue is declining over the period 2017-2018 (CAGR: -31.7%). Significant drop of -32% vs 2017. After deducting consumption (0 €), gross margin stands at 160 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 38 k€, representing 23.9% of revenue. Positive scissor effect: EBITDA margin improves by +4.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 130 k€, i.e. 81.5% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2018) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

160 000 €

Gross margin (2018) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

160 000 €

EBITDA (2018) ?
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

38 289 €

EBIT (2018) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

38 287 €

Net income (2018) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

130 470 €

EBITDA margin (2018) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

23.9%

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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 97%. 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 80.6% 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 (2018) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

0.023%

Financial autonomy (2018) ?
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

96.757%

Cash flow / Revenue (2018) ?
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

80.606%

Repayment capacity (2018) ?
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

0.002

Solvency indicators evolution
MICHEL RECHERCHE

Sector positioning

Debt ratio
0.02 2018
2016
2017
2018
Q1: 0.0
Med: 4.9
Q3: 46.22
Good

In 2018, the debt ratio of MICHEL RECHERCHE (0.02) 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
96.76% 2018
2016
2017
2018
Q1: 3.82%
Med: 33.54%
Q3: 64.49%
Excellent

In 2018, the financial autonomy of MICHEL RECHERCHE (96.8%) 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 2018
2016
2017
2018
Q1: 0.0 years
Med: 0.0 years
Q3: 0.46 years
Average +25 pts over 3 years

In 2018, the repayment capacity of MICHEL RECHERCHE (0.00) 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 1484.76. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Liquidity ratio (2018) ?
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

1484.762

Interest coverage (2018) ?
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
MICHEL RECHERCHE

Sector positioning

Liquidity ratio
1484.76 2018
2016
2017
2018
Q1: 135.75
Med: 235.8
Q3: 472.02
Excellent

In 2018, the liquidity ratio of MICHEL RECHERCHE (1484.76) 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.

Interest coverage
0.0x 2018
2016
2017
2018
Q1: 0.0x
Med: 0.0x
Q3: 0.45x
Average

In 2018, the interest coverage of MICHEL RECHERCHE (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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 108 days. Excellent situation: suppliers finance 108 days of the operating cycle (retail model). WCR is negative (-23 days): operations structurally generate cash.

Operating WCR (2018) ?
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

-10 090 €

Customer credit (2018) ?
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

0 j

Supplier credit (2018) ?
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

108 j

Inventory turnover (2018) ?
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 (2018) ?
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

-23 j

WCR and payment terms evolution
MICHEL RECHERCHE

Positioning of MICHEL RECHERCHE 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 MICHEL RECHERCHE is estimated at 210 416 € (range 47 754€ - 351 287€). With an EBITDA of 38 289€, 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 2018
98 tx
47k€ 210k€ 351k€
210 416 € Range: 47 754€ - 351 287€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
38 289 € × 3.5x
Estimation 132 642 €
33 051€ - 217 451€
Revenue Multiple 30%
160 000 € × 0.36x
Estimation 58 157 €
19 097€ - 98 406€
Net Income Multiple 20%
130 470 € × 4.9x
Estimation 633 243 €
127 499€ - 1 065 202€
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 MICHEL RECHERCHE with other companies in the same sector:

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

Frequently asked questions about MICHEL RECHERCHE

What is the revenue of MICHEL RECHERCHE ?

The revenue of MICHEL RECHERCHE in 2018 is 160 k€.

Is MICHEL RECHERCHE profitable?

Yes, MICHEL RECHERCHE generated a net profit of 130 k€ in 2018.

Where is the headquarters of MICHEL RECHERCHE ?

The headquarters of MICHEL RECHERCHE is located in ARTIX (64170), in the department Pyrenees-Atlantiques.

Where to find the tax return of MICHEL RECHERCHE ?

The tax return of MICHEL RECHERCHE 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 MICHEL RECHERCHE operate?

MICHEL RECHERCHE 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.