SARL HORCHOLLE ET FILS : revenue, balance sheet and financial ratios

In 2024, SARL HORCHOLLE ET FILS achieves revenue of 949 k€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +15.1%. Significant drop of -28% vs 2023. After deducting consumption (5 k€), gross margin stands at 944 k€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 502 k€, representing 52.9% of revenue. Warning negative scissor effect: despite revenue change (-28%), EBITDA varies by -47%, reducing margin by 18.4 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 304 k€, i.e. 32.0% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 27%. 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 78%. 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 43.7% 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 5232.07. 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 2.7x. 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: 89 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 11 days. The gap of 78 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 27 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 198 days of revenue, i.e. 522 k€ to permanently finance. Over 2016-2024, WCR increased by +389%, requiring additional financing.

Based on 110 transactions of similar company sales (all years), the value of SARL HORCHOLLE ET FILS is estimated at 512 190 € (range 135 911€ - 2 628 142€). With an EBITDA of 502 411€, the sector multiple of 1.5x is applied. The price/revenue ratio is 0.17x (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.