RAFFIN & ASSOCIES COURTAGE : revenue, balance sheet and financial ratios

RAFFIN & ASSOCIES COURTAGE is a French company founded 26 years ago, specialized in the sector Activités des agents et courtiers d'assurances. Based in CHAVANOD (74650), this company of category PME shows in 2024 a revenue of 1.9 M€. Find below the complete financial statements, solvency ratios, working capital requirements and sector comparison.

Data updated on 2026-05-02

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

Financial history - RAFFIN & ASSOCIES COURTAGE (SIREN 429320930)
Indicator 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue 1 852 081 € 1 853 605 € 2 018 873 € 1 905 972 € 1 547 340 € 550 110 € 526 199 € 519 360 € 460 906 €
Net income 88 487 € 499 088 € 349 292 € 404 837 € 951 496 € 37 171 € 50 130 € 16 746 € 20 120 €
EBITDA 113 509 € 181 720 € 500 344 € 559 215 € 271 696 € 49 789 € 64 149 € 24 321 € 34 222 €
Net margin 4.8% 26.9% 17.3% 21.2% 61.5% 6.8% 9.5% 3.2% 4.4%

Revenue and income statement

In 2024, RAFFIN & ASSOCIES COURTAGE achieves revenue of 1.9 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +19.0%. Slight decline of -0% vs 2023. After deducting consumption (0 €), gross margin stands at 1.9 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 114 k€, representing 6.1% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -38%, reducing margin by 3.7 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 88 k€, i.e. 4.8% of revenue. This profit can be retained or distributed to shareholders.

Revenue (2024) ?
Revenue
Definition
Total amount of sales of goods and services made by the company.
Formula
Sales of goods + Sold production

1 852 081 €

Gross margin (2024) ?
Gross margin
Definition
Difference between revenue and cost of goods sold.
Formula
Revenue - Cost of goods consumed

1 852 081 €

EBITDA (2024) ?
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

113 509 €

EBIT (2024) ?
EBIT (Operating Income)
Definition
Operating income, including depreciation and provisions.
Formula
EBITDA - Depreciation and provisions + Reversals

125 553 €

Net income (2024) ?
Net income
Definition
Profit or loss after all expenses, including taxes and exceptional items.
Formula
Current income + Exceptional income - Income tax

88 487 €

EBITDA margin (2024) ?
EBITDA margin
Definition
Measures the company's operating profitability.
Formula
(EBE / CA) x 100
Interpretation
> 10% : Good profitability
5-10% : Average
< 5% : Low

6.1%

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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 20%. 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 17%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

Debt ratio (2024) ?
Debt ratio
Definition
Measures the proportion of debt to equity.
Formula
(Financial debt / Equity) x 100
Interpretation
< 50% : Low
50-100% : Moderate
> 100% : High

19.711%

Financial autonomy (2024) ?
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

16.63%

Cash flow / Revenue (2024) ?
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

4.257%

Repayment capacity (2024) ?
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

1.319

Asset age ratio (2024) ?
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

22.9%

Solvency indicators evolution
RAFFIN & ASSOCIES COURTAGE

Sector positioning

Debt ratio
19.71 2024
2022
2023
2024
Q1: 0.0
Med: 7.61
Q3: 47.45
Average

In 2024, the debt ratio of RAFFIN & ASSOCIES COURTAGE (19.71) 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
16.63% 2024
2022
2023
2024
Q1: 13.11%
Med: 47.63%
Q3: 76.27%
Average

In 2024, the financial autonomy of RAFFIN & ASSOCIES COURTAGE (16.6%) 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
1.32 years 2024
2022
2023
2024
Q1: 0.0 years
Med: 0.12 years
Q3: 1.71 years
Average +17 pts over 3 years

In 2024, the repayment capacity of RAFFIN & ASSOCIES COURTAGE (1.32) 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 106.35. 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 0.1x. Danger: operating income does not cover interest charges, unsustainable situation.

Liquidity ratio (2024) ?
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

106.348

Interest coverage (2024) ?
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

0.139

Liquidity indicators evolution
RAFFIN & ASSOCIES COURTAGE

Sector positioning

Liquidity ratio
106.35 2024
2022
2023
2024
Q1: 123.28
Med: 242.89
Q3: 571.56
Watch

In 2024, the liquidity ratio of RAFFIN & ASSOCIES COURTAGE (106.35) ranks in the bottom 25% of the sector. This ratio measures the ability to cover short-term debt with current assets. A ratio below 1 may signal potential cash flow tensions.

Interest coverage
0.14x 2024
2022
2023
2024
Q1: 0.0x
Med: 0.0x
Q3: 2.2x
Good

In 2024, the interest coverage of RAFFIN & ASSOCIES COURTAGE (0.1x) ranks above the median of the sector. This ratio indicates how many times operating income covers interest expenses. This comfortable position offers an appreciable safety margin.

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: 512 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 1916 days. Excellent situation: suppliers finance 1404 days of the operating cycle (retail model). Overall, WCR represents 663 days of revenue, i.e. 3.4 M€ to permanently finance. Over 2016-2024, WCR increased by +1739%, requiring additional financing.

Operating WCR (2024) ?
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

3 411 496 €

Customer credit (2024) ?
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

512 j

Supplier credit (2024) ?
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

1916 j

Inventory turnover (2024) ?
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 (2024) ?
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

663 j

WCR and payment terms evolution
RAFFIN & ASSOCIES COURTAGE

Positioning of RAFFIN & ASSOCIES COURTAGE in its sector

Comparison with sector Activités des agents et courtiers d'assurances

Valuation estimate

Based on 193 transactions of similar company sales (all years), the value of RAFFIN & ASSOCIES COURTAGE is estimated at 650 190 € (range 186 818€ - 1 528 555€). With an EBITDA of 113 509€, 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.

Estimated enterprise value 2024
193 transactions
186k€ 650k€ 1528k€
650 190 € Range: 186 818€ - 1 528 555€
NAF 5 all-time

Valuation detail by method

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EBITDA Multiple 50%
113 509 € × 1.2x
Estimation 137 420 €
35 494€ - 701 432€
Revenue Multiple 30%
1 852 081 € × 0.98x
Estimation 1 819 537 €
507 408€ - 3 384 023€
Net Income Multiple 20%
88 487 € × 2.0x
Estimation 178 095 €
84 242€ - 813 164€

Valuation evolution

How is this estimate calculated?

This estimate is based on the analysis of 193 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 (Activités des agents et courtiers d'assurances)

Compare RAFFIN & ASSOCIES COURTAGE with other companies in the same sector:

Voir toutes les statistiques du secteur Activités des agents et courtiers d'assurances

Frequently asked questions about RAFFIN & ASSOCIES COURTAGE

What is the revenue of RAFFIN & ASSOCIES COURTAGE ?

The revenue of RAFFIN & ASSOCIES COURTAGE in 2024 is 1.9 M€.

Is RAFFIN & ASSOCIES COURTAGE profitable?

Yes, RAFFIN & ASSOCIES COURTAGE generated a net profit of 88 k€ in 2024.

Where is the headquarters of RAFFIN & ASSOCIES COURTAGE ?

The headquarters of RAFFIN & ASSOCIES COURTAGE is located in CHAVANOD (74650), in the department Haute-Savoie.

Where to find the tax return of RAFFIN & ASSOCIES COURTAGE ?

The tax return of RAFFIN & ASSOCIES 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 RAFFIN & ASSOCIES COURTAGE operate?

RAFFIN & ASSOCIES COURTAGE operates in the sector Activités des agents et courtiers d'assurances (NAF code 66.22Z). See the 'Sector positioning' section above to compare the company with its competitors.