HEWLETT-PACKARD CDS FRANCE : revenue, balance sheet and financial ratios

In 2024, HEWLETT-PACKARD CDS FRANCE achieves revenue of 12.0 M€. Activity remains stable over the period (CAGR: -4.4%). Vs 2023: +9%. After deducting consumption (0 €), gross margin stands at 12.0 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 942 k€, representing 7.9% of revenue. Positive scissor effect: EBITDA margin improves by +3.7 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 484 k€, i.e. 4.0% of revenue. This profit can be retained or distributed to shareholders.

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 41%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 3.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 169.43. 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 13.0x. 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: 35 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 140 days. Excellent situation: suppliers finance 105 days of the operating cycle (retail model). Overall, WCR represents 13 days of revenue, i.e. 443 k€ to permanently finance. Notable WCR improvement over the period (-48%), freeing up cash.

Based on 215 transactions of similar company sales (all years), the value of HEWLETT-PACKARD CDS FRANCE is estimated at 1 179 477 € (range 544 746€ - 3 505 980€). With an EBITDA of 942 378€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.16x (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.