JSC COURTAGE : revenue, balance sheet and financial ratios

JSC COURTAGE is a French company founded 16 years ago, specialized in the sector Autres activités auxiliaires de services financiers, hors assurance et caisses de retraite, n.c.a.. Based in LA PENNE-SUR-HUVEAUNE (13821), this company of category PME shows in 2018 a revenue of 308 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 - JSC COURTAGE (SIREN 514923846)
Indicator 2018 2017 2015 2014
Revenue 307 769 € 382 374 € 257 106 € 192 914 €
Net income 2 748 € 1 880 € 54 442 € 255 €
EBITDA 3 931 € 4 754 € 77 706 € 21 733 €
Net margin 0.9% 0.5% 21.2% 0.1%

Revenue and income statement

In 2018, JSC COURTAGE achieves revenue of 308 k€. Over the period 2014-2018, the company shows strong growth with a CAGR (compound annual growth rate) of +12.4%. Significant drop of -20% vs 2017. After deducting consumption (0 €), gross margin stands at 308 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 4 k€, representing 1.3% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3 k€, i.e. 0.9% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2018) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

307 769 €

Gross margin (2018) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

307 769 €

EBITDA (2018) ?
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

3 931 €

EBIT (2018) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

3 176 €

Net income (2018) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

2 748 €

EBITDA margin (2018) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

1.3%

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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 59%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 30%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 18.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 1.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2018) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

58.834%

Financial autonomy (2018) ?
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

29.931%

Cash flow / Revenue (2018) ?
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

1.153%

Repayment capacity (2018) ?
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

18.91

Asset age ratio (2018) ?
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

35.8%

Solvency indicators evolution
JSC COURTAGE

Sector positioning

Debt ratio
58.83 2018
2015
2017
2018
Q1: 0.0
Med: 8.0
Q3: 61.65
Average +10 pts over 3 years

In 2018, the debt ratio of JSC COURTAGE (58.83) 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
29.93% 2018
2015
2017
2018
Q1: 9.91%
Med: 41.89%
Q3: 73.83%
Average

In 2018, the financial autonomy of JSC COURTAGE (29.9%) ranks below the median of the sector. This ratio represents the share of equity in total financing. An improvement would strengthen the competitive position.

Repayment capacity
18.91 years 2018
2015
2017
2018
Q1: 0.0 years
Med: 0.0 years
Q3: 1.3 years
Average +14 pts over 3 years

In 2018, the repayment capacity of JSC COURTAGE (18.91) ranks above the median of the sector. This ratio indicates the number of years needed to repay debt with cash flow. A reduction effort could improve financial strength.

Liquidity ratios

The liquidity ratio (= Current assets / Current liabilities) stands at 500.73. 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 18.8x. Operating income very largely covers interest expenses: high safety margin.

Liquidity ratio (2018) ?
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

500.728

Interest coverage (2018) ?
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

18.774

Liquidity indicators evolution
JSC COURTAGE

Sector positioning

Liquidity ratio
500.73 2018
2015
2017
2018
Q1: 138.37
Med: 269.05
Q3: 675.28
Good +9 pts over 3 years

In 2018, the liquidity ratio of JSC COURTAGE (500.73) 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
18.77x 2018
2015
2017
2018
Q1: 0.0x
Med: 0.0x
Q3: 1.04x
Excellent

In 2018, the interest coverage of JSC COURTAGE (18.8x) ranks in the top 25% of the sector. This ratio indicates how many times operating income covers interest expenses. High coverage means financial charges weigh little on profitability.

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: 207 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 39 days. The gap of 168 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 207 days of revenue, i.e. 177 k€ to permanently finance. Over 2014-2018, WCR increased by +88%, requiring additional financing.

Operating WCR (2018) ?
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

176 681 €

Customer credit (2018) ?
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

207 j

Supplier credit (2018) ?
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

39 j

Inventory turnover (2018) ?
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 (2018) ?
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

207 j

WCR and payment terms evolution
JSC COURTAGE

Positioning of JSC COURTAGE in its sector

Comparison with sector Autres activités auxiliaires de services financiers, hors assurance et caisses de retraite, n.c.a.

Valuation estimate

Based on 103 transactions of similar company sales (all years), the value of JSC COURTAGE is estimated at 35 007 € (range 17 884€ - 92 493€). With an EBITDA of 3 931€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.30x (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 2018
103 transactions
17k€ 35k€ 92k€
35 007 € Range: 17 884€ - 92 493€
NAF 5 all-time

Valuation detail by method

Ajustez les pondérations selon votre analyse

EBITDA Multiple 50%
3 931 € × 2.5x
Estimation 10 017 €
4 461€ - 19 696€
Revenue Multiple 30%
307 769 € × 0.30x
Estimation 93 866 €
49 935€ - 259 725€
Net Income Multiple 20%
2 748 € × 3.3x
Estimation 9 196 €
3 369€ - 23 640€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 103 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 (Autres activités auxiliaires de services financiers, hors assurance et caisses de retraite, n.c.a.)

Compare JSC COURTAGE with other companies in the same sector:

Voir toutes les statistiques du secteur Autres activités auxiliaires de services financiers, hors assurance et caisses de retraite, n.c.a.

Frequently asked questions about JSC COURTAGE

What is the revenue of JSC COURTAGE ?

The revenue of JSC COURTAGE in 2018 is 308 k€.

Is JSC COURTAGE profitable?

Yes, JSC COURTAGE generated a net profit of 3 k€ in 2018.

Where is the headquarters of JSC COURTAGE ?

The headquarters of JSC COURTAGE is located in LA PENNE-SUR-HUVEAUNE (13821), in the department Bouches-du-Rhone.

Where to find the tax return of JSC COURTAGE ?

The tax return of JSC COURTAGE 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 JSC COURTAGE operate?

JSC COURTAGE operates in the sector Autres activités auxiliaires de services financiers, hors assurance et caisses de retraite, n.c.a. (NAF code 66.19B). See the 'Sector positioning' section above to compare the company with its competitors.