HEXA'SPORT : revenue, balance sheet and financial ratios

In 2025, HEXA'SPORT achieves revenue of 14.1 M€. Over the period 2017-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +5.6%. Slight decline of -6% vs 2023. After deducting consumption (8.6 M€), gross margin stands at 5.6 M€, i.e. a rate of 39%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 1.1 M€, representing 8.1% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -36%, reducing margin by 3.8 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 895 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 85%. 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 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 7.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 711.14. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 17 days. Favorable situation: supplier credit is longer than customer credit by 15 days. Inventory turnover is 110 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 113 days of revenue, i.e. 4.4 M€ to permanently finance. Over 2017-2025, WCR increased by +41%, requiring additional financing.

Based on 239 transactions of similar company sales (all years), the value of HEXA'SPORT is estimated at 3 967 422 € (range 1 785 479€ - 6 947 590€). With an EBITDA of 1 149 046€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.28x (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.