HOTENET : revenue, balance sheet and financial ratios

In 2025, HOTENET achieves revenue of 3.3 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +18.3%. Vs 2024: +5%. After deducting consumption (772 k€), gross margin stands at 2.6 M€, i.e. a rate of 77%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 253 k€, representing 7.6% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -41%, reducing margin by 5.9 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 162 k€, i.e. 4.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 14%. 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 44%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.8% 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 166.23. 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 3.1x. 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: 20 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 54 days. Excellent situation: suppliers finance 34 days of the operating cycle (retail model). Inventory turnover is 21 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 58 days of revenue, i.e. 534 k€ to permanently finance. Over 2016-2025, WCR increased by +617%, requiring additional financing.

Based on 101 transactions of similar company sales (all years), the value of HOTENET is estimated at 229 932 € (range 107 125€ - 1 034 398€). With an EBITDA of 253 441€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.13x (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.