HORIOT AIRCRAFT SALES : revenue, balance sheet and financial ratios

HORIOT AIRCRAFT SALES is a French company founded 54 years ago, specialized in the sector Réparation et maintenance d'aéronefs et d'engins spatiaux . Based in PAYNS (10600), this company of category PME shows in 2017 a revenue of 87 k€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-09

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

Financial history - HORIOT AIRCRAFT SALES (SIREN 729809632)
Indicator 2017 2016
Revenue 86 536 € 62 246 €
Net income 21 135 € 24 918 €
EBITDA 33 192 € 27 369 €
Net margin 24.4% 40.0%

Revenue and income statement

In 2017, HORIOT AIRCRAFT SALES achieves revenue of 87 k€. Vs 2016, growth of +39% (62 k€ -> 87 k€). After deducting consumption (0 €), gross margin stands at 87 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 33 k€, representing 38.4% of revenue. Warning negative scissor effect: despite revenue change (+39%), EBITDA varies by +21%, reducing margin by 5.6 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 21 k€, i.e. 24.4% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2017) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

86 536 €

Gross margin (2017) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

86 536 €

EBITDA (2017) ?
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

33 192 €

EBIT (2017) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

27 091 €

Net income (2017) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

21 135 €

EBITDA margin (2017) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

38.4%

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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 1%. 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 65%. 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 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 30.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

Debt ratio (2017) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

1.181%

Financial autonomy (2017) ?
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

64.846%

Cash flow / Revenue (2017) ?
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

30.443%

Repayment capacity (2017) ?
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

0.046

Asset age ratio (2017) ?
Asset age ratio
Definition
Measures the degree of wear of tangible assets.
Formula
Accumulated depreciation / Gross fixed assets x 100
Interpretation
< 50% : Recent assets
50-70% : Normal wear
> 70% : Aging assets

16.8%

Solvency indicators evolution
HORIOT AIRCRAFT SALES

Sector positioning

Debt ratio
1.18 2017
2016
2017
Q1: 0.0
Med: 14.18
Q3: 73.94
Good -9 pts over 2 years

In 2017, the debt ratio of HORIOT AIRCRAFT SALES (1.18) ranks below the median of the sector. This ratio measures the weight of debt relative to equity. This controlled position reflects prudent management.

Financial autonomy
64.85% 2017
2016
2017
Q1: 20.74%
Med: 39.85%
Q3: 59.57%
Excellent

In 2017, the financial autonomy of HORIOT AIRCRAFT SALES (64.8%) 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
0.05 years 2017
2016
2017
Q1: 0.0 years
Med: 0.2 years
Q3: 1.93 years
Good -26 pts over 2 years

In 2017, the repayment capacity of HORIOT AIRCRAFT SALES (0.05) ranks below the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. This controlled position reflects prudent management.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 268.69. 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 0.5x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2017) ?
Liquidity ratio
Definition
Ability to meet short-term debts with current assets.
Formula
Current assets / Current liabilities
Interpretation
> 1.5 : Very good
1-1.5 : Fair
< 1 : Liquidity risk

268.689

Interest coverage (2017) ?
Interest coverage
Definition
Ability to cover interest charges with operating income.
Formula
EBIT / Interest expenses
Interpretation
> 3 : Comfortable
1.5-3 : Acceptable
< 1.5 : Risk

0.518

Liquidity indicators evolution
HORIOT AIRCRAFT SALES

Sector positioning

Liquidity ratio
268.69 2017
2016
2017
Q1: 139.96
Med: 197.34
Q3: 284.35
Good

In 2017, the liquidity ratio of HORIOT AIRCRAFT SALES (268.69) ranks above the median of the sector. This ratio measures the ability to cover short-term debt with current assets. This comfortable position offers an appreciable safety margin.

Interest coverage
0.52x 2017
2016
2017
Q1: 0.0x
Med: 2.21x
Q3: 11.9x
Average -22 pts over 2 years

In 2017, the interest coverage of HORIOT AIRCRAFT SALES (0.5x) ranks below the median of the sector. This ratio indicates how many times operating income covers interest expenses. An improvement would strengthen the competitive position.

Working capital requirement (WCR) and payment terms

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 84 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 191 days. Excellent situation: suppliers finance 107 days of the operating cycle (retail model). Overall, WCR represents 38 days of revenue, i.e. 9 k€ to permanently finance.

Operating WCR (2017) ?
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

9 161 €

Customer credit (2017) ?
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

84 j

Supplier credit (2017) ?
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

191 j

Inventory turnover (2017) ?
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 (2017) ?
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

38 j

WCR and payment terms evolution
HORIOT AIRCRAFT SALES

Positioning of HORIOT AIRCRAFT SALES in its sector

Comparison with sector Réparation et maintenance d'aéronefs et d'engins spatiaux

Valuation estimate

Based on 197 transactions of similar company sales (all years), the value of HORIOT AIRCRAFT SALES is estimated at 56 064 € (range 20 091€ - 135 979€). With an EBITDA of 33 192€, the sector multiple of 2.4x 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.

Estimated enterprise value 2017
197 transactions
20k€ 56k€ 135k€
56 064 € Range: 20 091€ - 135 979€
NAF 4 all-time Aggregated at NAF sub-class level

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
33 192 € × 2.4x
Estimation 80 259 €
25 561€ - 200 808€
Revenue Multiple 30%
86 536 € × 0.28x
Estimation 24 659 €
12 385€ - 44 001€
Net Income Multiple 20%
21 135 € × 2.0x
Estimation 42 684 €
17 978€ - 111 876€
How is this estimate calculated?

This estimate is based on the analysis of 197 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 (Réparation et maintenance d'aéronefs et d'engins spatiaux )

Compare HORIOT AIRCRAFT SALES with other companies in the same sector:

Voir toutes les statistiques du secteur Réparation et maintenance d'aéronefs et d'engins spatiaux

Frequently asked questions about HORIOT AIRCRAFT SALES

What is the revenue of HORIOT AIRCRAFT SALES ?

The revenue of HORIOT AIRCRAFT SALES in 2017 is 87 k€.

Is HORIOT AIRCRAFT SALES profitable?

Yes, HORIOT AIRCRAFT SALES generated a net profit of 21 k€ in 2017.

Where is the headquarters of HORIOT AIRCRAFT SALES ?

The headquarters of HORIOT AIRCRAFT SALES is located in PAYNS (10600), in the department Aube.

Where to find the tax return of HORIOT AIRCRAFT SALES ?

The tax return of HORIOT AIRCRAFT SALES 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 HORIOT AIRCRAFT SALES operate?

HORIOT AIRCRAFT SALES operates in the sector Réparation et maintenance d'aéronefs et d'engins spatiaux (NAF code 33.16Z). See the 'Sector positioning' section above to compare the company with its competitors.