SOCIETE EQUIP'HORSE : revenue, balance sheet and financial ratios

In 2025, SOCIETE EQUIP'HORSE achieves revenue of 10.6 M€. Revenue is growing positively over 9 years (CAGR: +2.1%). Slight decline of -2% vs 2024. After deducting consumption (5.3 M€), gross margin stands at 5.3 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 192 k€, representing 1.8% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 131 k€, i.e. 1.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 30%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 57%. 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 3.8 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 2.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 332.35. 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 13.5x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 5 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 153 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 155 days of revenue, i.e. 4.6 M€ to permanently finance. Over 2017-2025, WCR increased by +41%, requiring additional financing.

Based on 145 transactions of similar company sales (all years), the value of SOCIETE EQUIP'HORSE is estimated at 944 948 € (range 450 480€ - 2 408 434€). With an EBITDA of 192 454€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.