HORTUS PATRIMOINE ET ASSOCIES : revenue, balance sheet and financial ratios

In 2024, HORTUS PATRIMOINE ET ASSOCIES achieves revenue of 2.5 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +17.3%. Vs 2023, growth of +26% (2.0 M€ -> 2.5 M€). After deducting consumption (0 €), gross margin stands at 2.5 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 482 k€, representing 19.4% of revenue. Warning negative scissor effect: despite revenue change (+26%), EBITDA varies by -24%, reducing margin by 13.0 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 338 k€, i.e. 13.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 18%. 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 69%. 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 0.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 14.4% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 208.15. 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 2.0x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 86 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. The gap of 44 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 39 days of revenue, i.e. 271 k€ to permanently finance.

Based on 193 transactions of similar company sales (all years), the value of HORTUS PATRIMOINE ET ASSOCIES is estimated at 1 158 343 € (range 343 420€ - 3 468 453€). With an EBITDA of 481 784€, 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.