CORHOFI FINANCIAL SERVICES : revenue, balance sheet and financial ratios

In 2024, CORHOFI FINANCIAL SERVICES achieves revenue of 16.4 M€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +101.0%. Vs 2023, growth of +49% (11.1 M€ -> 16.4 M€). After deducting consumption (2.0 M€), gross margin stands at 14.4 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 13.0 M€, representing 78.9% of revenue. Warning negative scissor effect: despite revenue change (+49%), EBITDA varies by +41%, reducing margin by 4.1 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 1.3 M€, i.e. 7.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 106%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 40%. 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 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 71.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 242.32. 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 5.2x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 74 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 303 days. Excellent situation: suppliers finance 229 days of the operating cycle (retail model). Overall, WCR represents 40 days of revenue, i.e. 1.8 M€ to permanently finance. Over 2020-2024, WCR increased by +171%, requiring additional financing.

Based on 103 transactions of similar company sales (all years), the value of CORHOFI FINANCIAL SERVICES is estimated at 18 898 809 € (range 8 478 497€ - 38 883 297€). With an EBITDA of 12 978 990€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.30x (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.