L'ATELIER DE L'HIPPOCAMPE : revenue, balance sheet and financial ratios

In 2024, L'ATELIER DE L'HIPPOCAMPE achieves revenue of 816 k€. Revenue is growing positively over 8 years (CAGR: +2.8%). Slight decline of -9% vs 2023. After deducting consumption (51 k€), gross margin stands at 765 k€, i.e. a rate of 94%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 289 k€, representing 35.5% of 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 265 k€, i.e. 32.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 94%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 38.5% 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 1992.72. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 163 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 36 days. The gap of 127 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 23 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 869 days of revenue, i.e. 2.0 M€ to permanently finance. Over 2017-2024, WCR increased by +151%, requiring additional financing.

Based on 101 transactions of similar company sales (all years), the value of L'ATELIER DE L'HIPPOCAMPE is estimated at 572 763 € (range 170 605€ - 1 085 552€). With an EBITDA of 289 444€, the sector multiple of 2.5x is applied. The price/revenue ratio is 0.24x (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.