HBJO ASSURANCES CONSEILS : revenue, balance sheet and financial ratios

In 2024, HBJO ASSURANCES CONSEILS achieves revenue of 2.6 M€. Over the period 2021-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +38.0%. Vs 2023, growth of +47% (1.8 M€ -> 2.6 M€). After deducting consumption (0 €), gross margin stands at 2.6 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 64 k€, representing 2.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 28 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 589%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 4%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 142.50. 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 13.6x. 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: 57 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 3 days. The gap of 54 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-39 days): operations structurally generate cash. Notable WCR improvement over the period (-39%), freeing up cash.

Based on 193 transactions of similar company sales (all years), the value of HBJO ASSURANCES CONSEILS is estimated at 813 637 € (range 228 265€ - 1 669 631€). With an EBITDA of 64 244€, the sector multiple of 1.2x is applied. The price/revenue ratio is 0.98x (in line with sector norms). 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.