HIPAY : revenue, balance sheet and financial ratios

HIPAY is a French company founded 33 years ago, specialized in the sector Programmation informatique. Based in LEVALLOIS-PERRET (92300), this company of category ETI shows in 2022 a revenue of 36.0 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

Sources : INPI & INSEE SIRENE - Processing : Ministry of Economy

Financial history - HIPAY (SIREN 390334225)
Indicator 2022 2016
Revenue 36 006 000 € 86 840 €
Net income 1 773 000 € 86 €
EBITDA 3 460 000 € 1 924 €
Net margin 4.9% 0.1%

Revenue and income statement

In 2022, HIPAY achieves revenue of 36.0 M€. Vs 2016, growth of +41362% (87 k€ -> 36.0 M€). After deducting consumption (0 €), gross margin stands at 36.0 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 3.5 M€, representing 9.6% of revenue. Positive scissor effect: EBITDA margin improves by +7.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.8 M€, i.e. 4.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2022) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

36 006 000 €

Gross margin (2022) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

36 006 000 €

EBITDA (2022) ?
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

3 460 000 €

EBIT (2022) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

303 000 €

Net income (2022) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

1 773 000 €

EBITDA margin (2022) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

9.6%

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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 87%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 67%. 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 59.2 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 4.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2022) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

86.663%

Financial autonomy (2022) ?
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

67.204%

Cash flow / Revenue (2022) ?
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

4.927%

Repayment capacity (2022) ?
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

59.204

Solvency indicators evolution
HIPAY

Sector positioning

Debt ratio
86.66 2022
2016
2022
Q1: 0.0
Med: 4.45
Q3: 61.94
Average +50 pts over 2 years

In 2022, the debt ratio of HIPAY (86.66) ranks above the median of the sector. This ratio measures the weight of debt relative to equity. A reduction effort could improve financial strength.

Financial autonomy
67.2% 2022
2016
2022
Q1: 3.97%
Med: 33.95%
Q3: 62.97%
Excellent

In 2022, the financial autonomy of HIPAY (67.2%) 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
59.2 years 2022
2016
2022
Q1: 0.0 years
Med: 0.0 years
Q3: 0.75 years
Watch +50 pts over 2 years

In 2022, the repayment capacity of HIPAY (59.20) ranks in the top 25% of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A long duration may signal heavy debt relative to repayment capacity.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. WCR is negative (-278 days): operations structurally generate cash.

Operating WCR (2022) ?
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

-27 805 994 €

Customer credit (2022) ?
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 (2022) ?
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

0 j

Inventory turnover (2022) ?
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 (2022) ?
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

-278 j

WCR and payment terms evolution
HIPAY

Positioning of HIPAY in its sector

Comparison with sector Programmation informatique

Valuation estimate

Based on 120 transactions of similar company sales (all years), the value of HIPAY is estimated at 7 544 166 € (range 3 659 010€ - 19 865 904€). With an EBITDA of 3 460 000€, the sector multiple of 2.2x is applied. The price/revenue ratio is 0.27x (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.

Estimated enterprise value 2022
120 transactions
3659k€ 7544k€ 19865k€
7 544 166 € Range: 3 659 010€ - 19 865 904€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
3 460 000 € × 2.2x
Estimation 7 694 095 €
3 338 660€ - 21 165 407€
Revenue Multiple 30%
36 006 000 € × 0.27x
Estimation 9 779 516 €
5 528 230€ - 23 917 498€
Net Income Multiple 20%
1 773 000 € × 2.2x
Estimation 3 816 323 €
1 656 057€ - 10 539 756€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 120 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 (Programmation informatique)

Compare HIPAY with other companies in the same sector:

Voir toutes les statistiques du secteur Programmation informatique

Frequently asked questions about HIPAY

What is the revenue of HIPAY ?

The revenue of HIPAY in 2022 is 36.0 M€.

Is HIPAY profitable?

Yes, HIPAY generated a net profit of 1.8 M€ in 2022.

Where is the headquarters of HIPAY ?

The headquarters of HIPAY is located in LEVALLOIS-PERRET (92300), in the department Hauts-de-Seine.

Where to find the tax return of HIPAY ?

The tax return of HIPAY 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 HIPAY operate?

HIPAY operates in the sector Programmation informatique (NAF code 62.01Z). See the 'Sector positioning' section above to compare the company with its competitors.